Indian markets have seen a significant decline over the past two weeks, with major indicators such as Nifty and Sensex losing substantially.

NIFTY 50 closed at 22,811.35, down 77.60 points from its highest intra-day level of 23,120.90 before falling nearly 460 points to a low of 22,649.90. The NSE Smallcap 100 fell by 1.58%, while the NSE Midcap 100 declined by 2.37%.

These companies, among others, saw an increase in their valuation, with a 2.88% rise that brought the Nifty IT to a new record in eight months.

The rise in crude oil prices due mainly to geopolitical tensions surrounding Swedish oil imports has been considered one of the key factors in the financial crisis.

The IPO of large scale banks like Jio Platforms has also influenced the market liquidity, making it difficult for secondary market transactions.

International markets, particularly those in Asia, have shown a notable improvement compared to Indian markets, with the Nikkei and Kospi opening positively.

Market breadth has increased significantly, with only 64 stocks bought and 431 sold during the day.