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Sensex tumbles over 700 points as global jitters hit markets
Business
The Sensex dropped 722 points on Monday, trading at just under 85,000 around 1:51pm while the Nifty50 fell by 250.85 points to 25,936.45.
Mid-cap and small-cap stocks felt the heat even more.
The main reasons? Worries about both global issues and local challenges led investors to sell off shares.
What drove the fall?
Public sector bank stocks took the biggest hit, with realty and chemicals not far behind.
A lot of this was triggered by foreign investors pulling out money as the rupee weakened, and new risks from rising Japanese bond yields didn't help either.
Still, experts say India's economy is strong overall—so while things might stay bumpy for now, there's some confidence for the longer run.