The Indian stock market witnessed a sharp selloff on Friday afternoon, with the Sensex and Nifty falling over 1% as passive fund flows linked to the MSCI index reshuffle weighed on sentiment.
Sensex dropped over 1,092 points to 74,776 while Nifty 50 crashed nearly 359 points to 23,547. This came as India VIX, which measures volatility in markets, jumped around 8% to 16.18. The sharp losses wiped off nearly Rs 6 lakh crore from the total market capitalisation of all companies listed on BSE, pulling it down to Rs 465 lakh crore.
