The Indian stock market extended its losses for the second consecutive session, with the Sensex declining 516 points to close at 77,328 and the Nifty 50 dropping 150 points to end at 24,176. This downturn is attributed to fresh escalations in the geopolitical situation between Iran and the US, which have caused fluctuations in oil prices, with Brent crude rising over 1% to $101 per barrel. The State Bank of India (SBI) saw a 7% drop in its shares after its Q4 earnings report failed to meet market expectations, while other major stocks like HDFC Bank, Bajaj Finance, and Axis Bank also faced declines. In contrast, the Nifty Smallcap 100 index managed to gain 0.2%, highlighting a trend where smaller stocks are outperforming larger ones. The market is currently sensitive to crude prices and ongoing political developments, with foreign institutional investors (FIIs) net selling Indian equities worth ₹341 crore for the third consecutive session. Analysts note that despite the overall market downturn, some segments, particularly in the midcap sector, are performing well.