Sensex, Nifty Drop Over 1.5% Amid Banking Selloff and Crude Surge
· Business · LiveMint, Zee News
The BSE Sensex fell 1,264 points (1.54%) to 73,563.92 and the Nifty 50 dropped 369 points (1.57%) to 23,046.15 in a single session. Banking and financial stocks led the selloff after IRDAI questioned bank-led insurance distribution models. Nearly ₹4 lakh crore of investor wealth was erased as crude oil prices rose above $102 and US 10-year bond yields reached 5.11%.
Why it matters
Retail investors holding banking and financial stocks saw significant losses in one trading day. The market reaction reflects sensitivity to global financial signals like US interest rates and oil prices, affecting household savings and investment portfolios.
Read the original report — LiveMint
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