The equity benchmark indices fell for the third straight day on Wednesday , with the Sensex dropping 813 points to 74,764 and the Nifty falling 204 points to 23,432. The Nifty gave up the 23,500 mark as the market slipped to its lowest level in three months, with Brent crude crossing $100 a barrel.
Here are five reasons behind today’s stock market fall:1. Brent crude crosses $100 a barrelThe market decline came as Brent crude crossed the $100-a-barrel mark.2. Broad-based sellingThe fall was broad-based, with 38 of the 50 Nifty stocks closing lower.

The Nifty Bank index fell 482 points to 56,296, while the Midcap index declined 323 points to 62,593. IT stocks lead the declineInformation technology stocks were the biggest laggards. Five of the top six Nifty losers were IT stocks, with Infosys, HCL Technologies, Tech Mahindra, Wipro and Tata Consultancy Services among the top losers.4.
Insurance and HDFC Bank remain weakInsurance stocks saw a sharp fall despite healthy August data, with HDFC Life Insurance declining 4%. HDFC Bank also remained weak, falling nearly 2% to close at a 52-week low.5. Realty stocks fall; Coforge down 5%Most realty stocks slipped, with Lodha and DLF among the top losers.

Coforge closed off its lows but still ended 5% lower following the resignation of its Chairman. Siddhartha Khemka, Motilal Oswal Financial Services, on Coforge, said, "There is a resignation of Coforge's chairman, but you need to understand that this is an independent director and the chairman.
So, it in no way directly or indirectly impacts the company's operations. The only thing that it definitely impacts is the sentiment around corporate governance or the issues with regard to the board evaluation process. And I think this is a short-term negative sentiment.

So, in the interim, again, if you look at one of the best-performing IT stocks, in the last six months the stock is up 60%. Q4 and then Q1, pretty strong numbers from Coforge, beating estimates on revenue and margins, with a record executable order book.
So, I think the cool-off in the stock would be a good entry point for people who are looking to get into some of these high-quality mid-cap IT names, which have been consistently delivering, like Persistent and Coforge. So, right now, I think the near-term sentiment definitely is dampened.

It needs clarity, which I think the company has given to some extent. And I think the stock needs to settle down over the next few days. After the strong rally, that should provide an entry opportunity."What gained? Adani Enterprises was the top Nifty gainer, rising more than 5% following a report on fundraising by Adani Airports.
Adani Ports gained 3% after an order win for Paradip Port. Among midcaps, Jindal Stainless , Paytm, Swiggy, Cummins and National Aluminium Company were among the top gainers. From the Sensex basket, Max Healthcare Institute Ltd, Adani Ports & Special Economic Zone Ltd, Coal India Ltd, Tata Steel Ltd, Apollo Hospitals Enterprise Ltd and Trent Ltd were the major gainers.

Infosys Ltd, HCL Technologies Ltd, Tech Mahindra Ltd, Wipro Ltd, Tata Consultancy Services Ltd and Hindustan Unilever Ltd were the biggest laggards.