Sensex drops 571 points as FIIs sell Rs 10,000 crore; market loses Rs 5 lakh crore
The Indian stock market experienced a sharp downturn, with Sensex falling 571 points and Nifty nearing 22,450. Foreign Institutional Investors offloaded equities worth over Rs 10,000 crore in a single day, triggering the selling pressure.
Rising bond yields and weakening rupee against the dollar further dampened investor sentiment. Soaring US Treasury yields added to the headwinds, with the rupee declining amid broader currency market pressures. The selloff wiped out approximately Rs 5 lakh crore in market value.
The combination of FII withdrawals, elevated bond yields, and external currency headwinds created a challenging trading environment for domestic equities.
