Sensex Plunges 995 Points and Nifty Sheds 1% Ahead of Fed Decision

Indian stock markets declined sharply on Wednesday as rising crude oil prices and bond yields dampened sentiment ahead of the US Federal Reserve's policy decision.

The Sensex plunged 995 points, or 1.35%, to an intraday low of 72,603.57, while the Nifty fell 252 points, or 1.1%, to 22,497.70, with IT stocks leading losses.

Brent crude rose 1.4% to $115.40 per barrel following an Houthi group claim of an attack on a Saudi oil refinery, and the benchmark 10-year US Treasury yield rose above 5%.