New Delhi, Sept. 24 -- The Indian stock market selloff intensified on Thursday as a toxic mix of surging bond yields, elevated crude oil prices, a weaker rupee and mounting expectations of higher US interest rates rattled investors. The pressure was amplified by aggressive selling in banking, financial services and insurance stocks following proposed changes to insurance commission rules by the regulator.

The BSE Sensex tumbled 1,264 points, or 1.54%, to hit an intraday low of 73,563.92, while the Nifty 50 dropped 369 points, or 1.57%, to 23,046.15.

The broad-based selloff also erased nearly Rs.4 lakh crore of investor wealth in a single session. The total market capitalisation of companies listed on the BSE fell to Rs.481.50 lakh crore...