Sensex Crashes Over 750 Points, Nifty Slips Below 22,400
What Happened
Indian equities witnessed a broad selloff on Thursday, with the Sensex falling over 750 points and the Nifty slipping below 22,400. Investor sentiment was hit by the RBI's 25-basis-point rate hike to 5.5%, persistent foreign investor selling, elevated crude oil prices above $100 per barrel, and weak global market cues. Financial, auto and metal stocks led the decline.
Key Takeaways
Higher interest rates, foreign fund outflows and global uncertainty are weighing on market sentiment, keeping Indian equities under pressure despite continued support from domestic investors.