Sensex crashes over 1,000 points, Nifty falls nearly 300 points
Indian stock markets took a sharp hit on Wednesday, with the Sensex dropping over 1,000 points and the Nifty falling nearly 300 points.
Markets reversed into losses on Wednesday after gains the prior day as worries about West Asia tensions and foreign investors pulling out contributed to cautious investor sentiment.
Foreign investors sold off nearly ₹4,700 crore in shares
Heavy selling in major bank stocks and continued foreign fund withdrawals fueled the fall.
On Tuesday alone, foreign investors sold off nearly ₹4,700 crore in shares, even as domestic investors tried to balance things out by buying more.
Most stocks fell, with individual names such as Sun Pharma and NTPC among the gainers, while oil prices dipped slightly amid all this uncertainty.
Global instability is contributing to increased volatility in several markets.