Sensex, Nifty Crash as Oil Prices Surge, Bond Yields Jump

The Indian stock market benchmarks, Sensex and Nifty 50, plummeted on Wednesday, September 2, mirroring weak global sentiment.

The Sensex crashed over 800 points to hit an intraday low of 76,136, while the Nifty 50 plunged over 250 points to drop to 23,787 during the session.

The selloff was broad-based as the BSE 150 Midcap and 250 Smallcap indices also dropped more than 1% each.

Bond yields surged globally, with investors selling bonds aggressively amid concerns over inflation and expectations of monetary tightening. The US 10-year bond yield jumped to 4.82%, while Japan's 10-year bond yield reached 3% for the first time since 1996.