Indian stocks fell on Wednesday after data showed the country's economic growth missed estimates, with the escalating Ukraine crisis and surging crude oil prices further weighing on investor sentiment.
The blue-chip NSE Nifty 50 index declined 1.02 per cent to 16,621.80 and the S&P BSE Sensex dropped 1.17 per cent to 55,586.67 as markets resumed trading after a holiday.
India's economy expanded 5.4 per cent in the October-December quarter from a year earlier, data released after market hours on Monday showed, missing economists' forecast of a 6 per cent growth, amid heightened worries over surging crude oil prices and commodities after Russia's invasion of Ukraine.
Oil prices rose above $110 a barrel on Wednesday, their highest since early July 2014, as sanctions on Russian banks hampered trade finance for crude shipments.
In Mumbai, Nifty's financial services sector index and the auto index were among the top losers, declining 2.2 per cent and 1.8 per cent, respectively.
Sensex on Wednesday slumped 613.55 points to 55,633.73 in the opening session. Nifty declined 175.30 points to 16,618.60.
Banking stocks were mostly in the red with ICICI Bank, HDFC Bank being the worst hit.
Tata Steel was the top gainer with stocks up over 3 per cent.
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