The domestic equity markets faced a sharp downturn during the morning session, with the Nifty 50 index dropping below 23,850 to 23,831.65, marking a decline of 1.42%. The S&P BSE Sensex fell 1,084.43 points or 1.40% to 76,411.93. This decline was largely driven by heightened volatility following exit poll predictions for upcoming state elections, a surge in oil prices to historic highs, and a record low for the Indian rupee. Additionally, foreign institutional investors continued to sell off shares, exerting further downward pressure on the market. The Nifty Auto index was particularly affected, tumbling 2.32% as major auto manufacturers like TVS Motor Company and Eicher Motors reported significant losses. In the broader market, the BSE 150 MidCap Index fell 1.68%, while the BSE 250 SmallCap Index dropped 1.35%. Overall, market breadth was negative, with 2,653 shares declining compared to 1,022 shares that rose. The India VIX, which measures market volatility, surged 10.20% to 19.22, reflecting increased investor anxiety.