Punjab, Sept. 28 -- The Sensex fell 1,124.02 points to 72,771.72 and the Nifty 360.25 to 22,780.25 - both near six-month lows. All 30 Sensex constituents closed red. Roughly Rs 7.5 lakh crore of market value went in one session.
What did it
Crude, mainly. Brent went back above $106 and traded as high as $108.48 after the US rejected Iran's proposal to reopen the Strait of Hormuz.
Alongside it: US Treasury yields at multi-decade highs, continued foreign selling, and a weakening rupee. Four pressures that all point the same way and none of which is domestic.
Banks took it worst, again
The Nifty PSU Bank index fell over 2.5%.
That has been the pattern for a fortnight. Rising global yields mark down the bond portfolios banks are required ...