Overview
- Benchmarks closed sharply lower, with the Sensex down 609.68 points to 85,102.69 and the Nifty off 225.90 points at 25,960.55.
- BSE market capitalisation fell by about ₹7.56 lakh crore as broader indices underperformed, with mid- and small-cap gauges dropping more than 2%.
- Analysts cited persistent FII selling and currency weakness as key drags, with the rupee around 90.1 to the dollar during the session.
- Rising Japanese bond yields were flagged as a potential catalyst for unwinding of the yen carry trade, adding to risk-off positioning before the Dec 9–10 Fed meeting.
- Selling was broad-based with PSU banks, realty and chemicals leading losses, while heavy IPO activity and allotments diverted liquidity from the secondary market.