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The weakness of the Indian rupee against the dollar, a sharp rise in crude oil prices in recent times and selling by foreign funds in the Indian market led to the sensex crashing 806 points on Thursday—the steepest fall in over 2.5 years. The index closed at 35,169, a four-month closing low. According to dealers, although domestic funds were buying, everyone on Dalal Street felt it was a day of panic selling.
The weakness of the Indian rupee against the dollar, a sharp rise in crude oil prices in recent times and selling by foreign funds in the Indian market led to the sensex crashing 806 points on Thursday—the steepest fall in over 2.5 years. The index closed at 35,169, a four-month closing low. According to dealers, although domestic funds were buying, everyone on Dalal Street felt it was a day of panic selling.
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