The Indian stock market plunged sharply on Thursday, with Sensex hitting a fresh 52-week low and Nifty breaching key technical levels as massive FII outflows, soaring bond yields and other factors spooked investors for the fourth consecutive session.
After plunging more than 1.5% each, Sensex and Nifty recovered some losses late in the afternoon, but still closed deep in the red. Sensex dropped around 571 points to close at 71,910, while Nifty 50 declined nearly 199 points to end the session at 22,422. The selloff wiped off Rs 5 lakh crore from the total market capitalisation of all companies listed on BSE, dragging it down below Rs 467 lakh crore.
