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The rise in the Indian stock market, which has been continuing for five consecutive sessions, was stopped on Thursday. Investors are inclined towards selling due to fear of ceasefire violation in West Asia and pressure on crude oil price rise.

Due to the possibility of ceasefire breaking in West Asia, there has been a decline in Asian markets, which has also affected the Indian market. During the trading session, BSE Sensex fell by more than 1,000 points while the National Stock Exchange Nifty 50 index fell by more than 23,800 points.

Ultimately the Sensex closed at 76,631.65 points, down 931.25 points or 1.20%. Nifty fell by 222.25 points i.e. 0.93% and reached 23,775.10 points. 19 major Sensex stocks opened with losses.

According to analysts, the possibility of breaking the ceasefire in West Asia and the increase in the price of crude oil have been seen in the Asian markets, which has clearly affected the Indian market as well. Iran has accused America of ceasefire violations, due to which uncertainty has increased in the world market.

Crude oil price again reached above $95 per barrel. Brent crude was trading 2.9% higher at $97.50 per barrel, putting pressure on energy stocks and the broader market.

Major decliners in BSE Sensex include Bajaj Finance, Adani Ports, BEL, Infosys, IndiGo, Kotak Mahindra Bank and ICICI Bank.

Meanwhile, shares of NTPC, Hindustan Unilever, Tech Mahindra, Bharti Airtel, Trent, SBI, Power Grid, TCS and ITC have seen a rise.

Shares of Nifty 50 index Infosys, Adani Ports and Special Economic Zone, Shriram Finance and HCL Tech were the biggest losers.

In the broader market, Nifty Midcap closed with a rise of 0.28% while Nifty Small Cap closed with a rise of 0.57%. Sectorally, Nifty Metal and Nifty Media have seen growth while Nifty ITMA has seen the maximum pressure.

According to experts, investors have become more cautious amid worldwide uncertainty. Tension in West Asia, increase in crude oil prices and weak signals from the world market may have led to the decline in the stock market.