Indian stock markets saw a sharp decline on Wednesday, with the Sensex plunging 1,190 points to end at 63,019, and the Nifty dropping 361 points to 18,743.
The market faced heavy selling pressure due to concerns about the US Federal Reserve's rate hike plans, which led to fears of slower global growth. A major IT sector sell-off added to the losses, with key stocks like TCS, Infosys, and Wipro taking a hit. Additionally, rising bond yields in the US further spooked investors, contributing to the market meltdown.