Prior to the Federal Reserve’s annual Jackson Hole symposium, domestic benchmark indices experienced a steep decline on Monday due to rising currency and US bond yields. At home, futures and options traders were also watching the expiration of monthly derivatives.
Analysts anticipated selling at highs because the indices were in the overbought zone. Additionally, the Asian stock markets were mainly mixed and provided little assistance for domestic stocks.
The 30-pack BSE Sensex plunged 872 points or 1.46 percent, closing at 58,773.87, below the 59,000 barrier. Nifty50, on the other hand, dropped 267.8 points to finish at 17,490.70.