The equity benchmark indices traded lower on Thursday, extending losses from the previous two sessions, as an escalating West Asia war kept oil above $110 per barrel, stoking inflation concerns for the world's third-largest importer of crude.
At around 9:30 a.m., the Sensex was down 599.47 points or 0.81 percent at 73,110.22, while the broader Nifty declined to 22,585.15, down 226.20 points or 0.99 percent.
1) Higher crude prices: Brent crude futures were up 1.6% at $110.6 per barrel as more attacks in Saudi Arabia by Yemen's Houthis prompted the United States to order some diplomats and family members to leave its missions in the kingdom.
2) RBI MPC minutes: Members of India's rate-setting panel indicated that further rate hikes may be needed to curb inflation but stopped short of endorsing an aggressive tightening cycle over risks to economic growth, minutes of the committee's latest policy meeting released on Wednesday showed.
3) Rise in India Vix: The fear gauge or the volatilty index rose nearly 6 percent to 16.55 level, indicating higher uncertainity among investors.