Indian stock markets witnessed a steep fall today as both benchmark indices slipped under heavy selling pressure. The Sensex dropped 1,000 points (‑1.35%) to 72,880 while the Nifty fell 313 points (‑1.35%) to 22,824. This marks the seventh consecutive weekly decline, the longest losing streak since 2020.
The sell‑off was triggered by a mix of global and domestic factors. Crude oil prices surged to $106.5 per barrel (+1.7%), raising concerns about inflation, the rupee, and India’s import bill. Rising tensions in the Strait of Hormuz between the United States and Iran have kept oil prices elevated.
Another major drag was the rise in United States bond yields. The 10‑year Treasury yield touched 5.2%, a multi‑decade high. This made emerging markets less attractive and prompted foreign investors to withdraw funds.
Foreign portfolio investors sold equities worth ₹3,694 crore, while domestic institutions bought ₹2,838 crore. All major sectors including banking, auto, FMCG, and metals ended lower. Midcap and smallcap indices also fell more than 1%.
The sell‑off erased nearly ₹6 lakh crore in market value. Bajaj Finance, Kotak Mahindra Bank, and HDFC Bank were among the top losers.
Overall, the combination of rising crude, elevated bond yields, and persistent foreign selling has left investors cautious. Analysts expect volatility to continue in the near term.