The sensex and nifty have extended their losses, with the sensex reportedly settling over 1,000 to 1,500 points lower and the nifty ending below 23,150 to 23,550. The decline is attributed to middle east tensions, which have led to increased oil prices and inflation fears, as well as weak global cues. The total value of losses is estimated to be significant, with some reports suggesting over 4 to 11 lakh crore has been wiped out.