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Sensex and Nifty plummeted as FPIs sold off, influenced by US inflation and tweak in India-Mauritius tax treaty. Investors are also cautious on valuations, profit booking, and rising commodities prices. EPS growth is likely to moderate in Q4 earnings season which begins today with TCS.
The 30-share BSE Sensex pack slumped 719 points or 0.98 per cent to trade at 72,376 and the broader NSE Nifty index moved 244 points or 1.1 per cent down to hit 21,955 level.
BSE's barometer Sensex dropped more than 835 on Thursday to slip down to 70,665.50 early in the morning. The 30-share pack has crashed over 2,760 points from its 52-week highs at 73427.59.
BSE's Sensex dropped 313.90 points, or 0.44 per cent, to settle at 71,186.86. NSE's Nifty50 plunged 109.70 points, or 0.51 per cent, to end the day at 21,462.25 for the day.
US bond yields rise ahead of inflation data, triggers fears of delayed Fed rate cuts