Nifty Breaks Below 22,600 as Crude Oil Prices Soar and FII Selling Continues

The Nifty 50 index declined sharply on September 29, breaking below the crucial 22,600 mark as several negative global and domestic factors combined to keep investors on the defensive.

The index had opened at 22,732.45 but selling intensified soon after the opening bell, with the Nifty 50 trading at 22,579.70, down 200.55 points or 0.88% from its previous close of 22,780.25.

The decline follows Monday's sharp selloff, when the Nifty dropped 1.56% to 22,780.25, while the Sensex lost more than 1,100 points as Indian equities slipped towards six-month lows.