Indian Stock Market Plunges for Fourth Straight Day on Foreign Fund Outflows

The Indian stock market saw its fourth consecutive day of decline on Thursday, with both Sensex and Nifty posting significant losses.

Sensex dropped by 570.59 points or 0.79% to settle at 71,909.70, while Nifty fell by 198.50 points or 0.88% to end at 22,421.95.

The decline was attributed to a range of factors, including relentless foreign fund outflows, high bond yields, and a fresh spike in crude oil prices.

Rise in US Treasury yields also weighed on investor sentiment, with the 10-year yield climbing to its highest level since 2002 at 5.33%.

The auto sector was particularly hard hit, with shares falling by as much as 5.9%, while consumer durables lost 6.2% this week due to concerns around demand and spending.