Mumbai, April 25 -- Equity benchmark indices Sensex and Nifty tumbled over 1% on Friday, falling for the third consecutive day, as a sharp rally in crude prices and massive selling in information technology (IT) counters weighed heavily on investors' sentiment. Unabated foreign fund outflows, a negative trend in global markets amid prolonged conflict and continued disruption in the Strait of Hormuz added to the gloom. The 30-share BSE Sensex dropped 999.79 points, or 1.29%, to settle at 76,664.21. During the day, it plunged 1,260.13 points or 1.62% to 76,403.87. A total of 2,905 stocks declined, while 1,326 advanced and 158 remained unchanged on the BSE. The wider gauge NSE Nifty slumped 275.10 points, or 1.14%, to end at 23,897.95. On the weekly front, the BSE benchmark tanked 1,829.33 points, or 2.33%, and the Nifty dropped 455.6 points, or 1.87%. "Indian equity markets extended their decline for a third consecutive session, as renewed risk-off sentiment weighed on investor confidence. Ongoing tensions in the Middle East, coupled with persistent weakness in the IT sector, continued to pressure an already fragile market backdrop. Volatility also increased, with the India VIX rising 6%, reflecting heightened fear and uncertainty amid the prolonged conflict and continued disruption in the Strait of Hormuz, with no meaningful signs of de-escalation," Ponmudi R., CEO of Enrich Money, an online trading and wealth tech firm, said.From the Sensex constituents, Infosys dived 7.09% after its revenue growth forecast for FY27 came in lower than market expectations. HCL Tech, Tata Consultancy Services, Tech Mahindra, Sun Pharma, Asian Paints and ICICI Bank were also among the major laggards. In contrast, Trent, Bajaj Finance, State Bank of India, HDFC Bank and Kotak Mahindra Bank were the winners. The BSE SmallCap Select index dropped 0.95%, and the MidCap Select index dipped 0.91%. All sectoral indices ended lower. The BSE IT tanked 5.13%, BSE Focused IT (4.65%), Healthcare (1.35%), Telecommunication (1.33%), Realty (1.30%), Services (1.17%) and Consumer Discretionary (1.04%). "Indian markets extended their weakness for a third consecutive session, closing on a cautious and lower note as subdued global cues, weak earnings sentiment from IT majors, rising crude oil prices, inflation concerns, and currency pressure weighed on overall sentiment, keeping investors largely on the sidelines despite selective stock-specific buying interest," Gaurav Garg, analyst, Lemonn Markets Desk, said. Brent crude, the global oil benchmark, traded 2.17% higher at $107.3 per barrel. Foreign institutional investors (FIIs) offloaded equities worth Rs.3,254.71 crore on Thursday, according to exchange data. "IT stocks led the decline following disappointing quarterly earnings, while selling pressure was broad-based across sectors. FIIs returned to net selling again after a brief spell of inflows," Vinod Nair, Head of Research, Geojit Investments Limited, said. In Asian markets, South Korea's benchmark Kospi and Shanghai's SSE Composite index ended lower, while Japan's Nikkei 225 and Hong Kong's Hang Seng settled higher. Markets in Europe were trading lower in afternoon trade.US markets ended lower on Thursday. On Thursday, the Sensex tumbled 852.49 points or 1.09% to settle at 77,664. The Nifty dropped 205.05 points or 0.84% to end at 24,173.05....