Indian shares extended their slump on Wednesday, with the rupee falling to a record low, as escalating US-Israel clashes with Iran pushed oil to a 19-month high and dragged global markets lower on fears of a prolonged Middle East conflict.

The Nifty 50 fell 2.25 per cent to a 10-month low of 24,305.4 and the BSE Sensex shed 2.24pc to an 11-month low of 78,443.2 as of 10:10am IST.

Domestic markets were closed on Tuesday for a local holiday. The benchmarks have lost about 2.5pc each over the past two sessions.

Other Asian markets slid 4.3pc, while Wall Street closed lower overnight on worries that a wider Mideast war could deliver an energy shock that raises inflation and delays rate cuts.