On Wednesday, the Indian equity markets experienced a sharp decline, ending a three-day winning streak. The S&P BSE Sensex fell by 756.84 points (0.95%) to 78,516.49, while the Nifty 50 index decreased by 198.50 points (0.81%) to 24,378.10, dipping below the critical 24,400 level. This downturn was primarily attributed to relentless selling in IT stocks, particularly HCL Technologies, which dropped 10.74% following disappointing earnings guidance. Investor sentiment was further dampened by ongoing geopolitical tensions related to the U.S.-Iran conflict, which has created uncertainty in the market. Despite these challenges, the broader market showed some resilience, with the BSE 150 MidCap Index rising by 0.29% and the BSE 250 SmallCap Index increasing by 0.90%. Additionally, Moody's has revised India's GDP growth forecast for FY27 down to 6% from 6.8%, citing weak consumption and rising energy costs as significant factors. The market is now closely watching upcoming Q4 earnings reports for signs of recovery.