Benchmark indices posted their biggest single-day fall in nearly two months as a slew of global headwinds triggered a major selloff by foreign portfolio investors (FPIs).
A sharp resurgence in China's markets raised concerns about a shift in foreign flows from India, where valuations are nearly double those of other emerging markets.
In addition, rising tensions in West Asia following Israel's strikes in Lebanon, along with a slide in Japanese markets, weighed on sentiment. Experts said traders were also nervous ahead of the market regulator tightening derivatives trading criteria.
FPIs pulled out nearly ₹10,000 crore from domestic markets on Monday.
The Sensex closed at 84,300 after a decline of 1,272 points, or 1.5 per cent, while the Nifty 50 index ended at 25,811, down 368 points, or 1.4 per cent — its biggest drop since August 5.
The total market capitalisation of BSE-listed firms fell by ₹3.6 trillion at ₹474 trillion.
This story is from the October 01, 2024 edition of Business Standard.
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This story is from the October 01, 2024 edition of Business Standard.
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