After opening higher, Indian equities reversed course on Monday, with the Sensex tumbling nearly 1,000 points from the day’s high as persistent FII selling, rising bond yields and other headwinds overshadowed early optimism.
Sensex dropped nearly 548 points to close at 71,925 while Nifty 50 declined almost 157 points to end the session at 22,363. This came while India VIX, which measures volatility in the market, jumped over 6% to cross 15. The Sensex had opened over 400 points higher before quickly reversing course and wiping out its opening gains.
