Irdai's reform proposal spooks markets
India, Sept. 25 -- Stock markets tumbled on Thursday with the benchmark index Sensex tanking nearly 1,248 points to settle at an over three-month low due to across-the-board selling, led by financials, metal, auto and oil shares amid a spike in crude oil prices and surging US bond yields.
The 30-share BSE Sensex tanked 1,247.71 points, or 1.67 per cent, to settle near the day's low levels at 73,580.54, the lowest closing level since June 8. During the day, it plummeted 1,264.33 points, or 1.68 per cent, to 73,563.92. The 50-share NSE Nifty dropped 383.70 points, or 1.64 per cent, to end at a more than five-month low of 23,063.10. As many as 47 Nifty constituents ended lower and three advanced.
Analysts said markets were weighed down by ...
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