Sensex down 900 points as foreign investors sell ₹20,000 cr+
Business
The Indian stock market had a rough Thursday, with the Sensex dropping over 900 points and the Nifty falling below 22,300.
One of the major triggers? Foreign investors sold off more than ₹10,000 crore in Indian stocks on September 30 alone, bringing their total sell-off to over ₹20,000 crore so far.
US yields, rupee slump, midcap rotation
Rising US bond yields are making American assets more tempting for global investors, so they're moving money out of India.
Plus, the rupee's slump past ₹96 against the dollar isn't helping. Oil price worries are also adding pressure.
While big stocks took a hit, some investors are shifting focus to mid-cap and small-cap shares, which have stayed a bit steadier during all this chaos.