Indian equity markets extended their decline on Wednesday, August 12, as escalating geopolitical tensions in the Middle East, a renewed surge in crude oil prices and heavy selling in Tata Group stocks weighed on investor sentiment.The NSE Nifty50 settled at 24,435.95, down 35.75 points, or 0.15%, while the BSE SENSEX ended 187.90 points, or 0.24%, lower at 77,966.35.In the broader market, the Nifty Midcap100 ended 0.28% higher, while the Nifty Smallcap100 declined 0.18%.Among sectoral indices, PSU Bank stocks outperformed, with the Nifty PSU Bank index gaining 2.05%. Bank Nifty, Media, Private Bank, Realty, Oil & Gas and Pharma also ended higher, while other sectoral indices closed in the red.The Nifty IT index was the top sectoral laggard, declining 1.54%.ALSO READ: N Chandrasekaran era delivered 3.3X market cap growth. Can Tata stocks keep winning after his exit?Here are today’s top gainers on the NiftyAgenciesHere are today’s top gainers on the SensexAgenciesHere are today’s top losers on the NiftyAgenciesHere are today’s top losers on the SensexAgenciesTechnical ViewThe Nifty50 continued to fall after slipping below the 24,400 level, declining towards 24,250 before finding support around the 200-hour SMA and staging a recovery.On the daily timeframe, the index managed to close above the 20EMA. However, the RSI indicator remained in a bearish crossover, pointing to weak momentum.“A sustained fall below 24,400 on Thursday might again drag the index towards 24,180. On the higher end, 24,500 is likely to act as a crucial resistance, and a sustained move above this level might improve the trend,” said Rupak De, Senior Technical Analyst at LKP Securities.