India, May 29 -- Sensex, Nifty 50 slid sharply on Friday, May 29, as investors sold through the final hour to poach early gains. The Sensex fell 1,092 points, or 1.44%, to finish at 74,775.74, after slipping 1,056 points, or 1.40%, at 73,201.90 in the early part of the session. The Nifty fell almost six points, or 1.50%, to finish at 23,547.75 after meshing in late, low bids over most of the morning.

What caused sharp selloff in Dalal Street value?

The selling, which has eroded almost Rs.6 lakh crore of wealth in equity traders, was largely driven by investors cashing out before the weekend and amid growing concern over a possible escalation of conflict in West Asia. The sell-off came after a report that a US-Iran understanding over a c...