π Sensex tanks over 1200 points on weak global cues
The Indian equity benchmark indices, Nifty50 and BSE Sensex, saw a major selloff on Thursday. This happened due to weak global cues and a sharp increase in US yields, impacting stocks across the board. On Thursday, Nifty50 traded at 23,076.55, down 1.58%, while BSE Sensex was at 73,673.50, down 1.54%. The pressure intensified as US Treasury yields hit 19-year highs and Fed rate hike expectations rose. Going forward, market sentiment depends heavily on US-Iran developments and crude oil prices.