Indian stock markets fell sharply for a fifth straight session on Friday. The Sensex dropped 332 points while the Nifty ended below 23,800. Oil prices above $100 per barrel and foreign institutional investor selling contributed to the decline.
The selloff erased more than Rs 3 lakh crore from overall market capitalization. Broader market indices and multiple sectors also posted substantial losses.
Investor concerns were driven by rising oil prices and continued selling by foreign institutional investors. Market breadth remained negative throughout the session.
The Nifty finished below the 23,800 level after earlier trading near 23,650 in some reports. Volatility stayed elevated as traders reacted to the ongoing pressures.
