From The Economic Times · Debaroti Adhikary · · 1m 20s
Stocks Plunge as RBI Tightens Policy
RBI policy shifts trigger sharp stock market drop in India.
In brief
RBI policy shifts trigger sharp stock market drop in India. Indian equities crashed Thursday as Nifty hit 52-week low of 22,179 amid RBI rate hikes, FII outflows, and rising bond yields. Originally reported by The Economic Times.
Indian stock market crashes
Indian equities suffered brutal sell-off as hawkish RBI policy, FII outflows and rising yields dragged Nifty and Sensex sharply lower.
Nifty hits 52-week low
Nifty sank to fresh 52-week low of 22,179 before recovering to close at 22,232.
Sensex plunges 1,045 points
Sensex plunged more than 1,045 points to close at 71,593.
Market capitalisation drops
Market wiped out more than rs 10 lakh crore from total capitalisation, taking it to rs 461 lakh crore.
RBI policy tightening impacts
RBI policy tightening weighed on rate-sensitive sectors, resetting near-term valuation multiples.
FII outflows and bond yields
Persistent FII outflows and harder bond yields amplified market headwinds.
Crude oil prices rise
Brent crude futures jumped 4.2% to more than $104 a barrel.
Treasury yields near peak
10-year treasury bond yield stood at 5.29%, close to highest mark since 2002.
Global markets react
US stocks edged lower as oil prices and treasury yields stoked inflation worries.
Q2 earnings season focus
Market shifts to Q2 earnings season for near-term direction.
What matters most
Indian equities crashed Thursday as Nifty hit 52-week low of 22,179 amid RBI rate hikes, FII outflows, and rising bond yields.
