Global equity markets suffered heavy losses as escalating geopolitical tensions pushed Brent crude close to $100 a barrel and US Treasury yields climbed.

Indian equity markets extended their losing streak as the Sensex dropped 319.79 points and the Nifty fell below 24,100 amid rising global bond yields and spiking crude prices.

Indian stock markets are projected to open flat following a sharp decline in the previous session, pressured by rising energy costs and geopolitical tensions.

Crude oil prices plunged more than 9% to $88 a barrel after the US paused strikes on Iran and Tehran signaled restraint, boosting hopes of de-escalation.

Emcure Pharmaceuticals posts a 42% year-on-year increase in net profit for the first quarter, highlighting the latest corporate earnings updates.