Indian stock markets have fallen, with key indices such as the Sensex and Nifty dropping, amid a rout in the IT sector and tensions in West Asia. The decline has been attributed to various factors, including a crash in global markets like Nasdaq and KOSPI, as well as domestic issues like a fall in the rupee and a surge in crude prices. The extent of the market downturn is still unfolding, with some reports indicating significant losses, potentially affecting large caps and bank stocks.