Sensex dropped 1,045 points, a 1.4% slide, closing at 71,593 after Brent crude spiked above $105 and U.S. Treasury yields touched a 2‑decade high, while the rupee hovered near 96.8.
Reliance Industries, HDFC Bank and Bharti Airtel were the main draggers, pulling the index down as their shares tumbled in the early session.
The day’s loss erased Rs 10 lakh crore of investor wealth, bringing the total market capitalization of BSE‑listed companies to Rs 461 lakh crore.
Year‑to‑date, Sensex has slipped 16%, Nifty 15%, Hang Seng nearly 10%, Shanghai 5.3%, whereas Nikkei +33%, iBovespa +28% and Nasdaq +17.6% have all posted gains.
Since the Aug 7 close, the index has fallen 8,900 points (8.8%). If it closes below 71,910, a nine‑week losing streak would set a new record.
Foreign portfolio investors net sold Rs 13,000 crore this session – the largest single‑day outflow in recent memory – flagging caution ahead of the next earnings cycle.