Sensex Plummets Over 600 Points as Crude Oil Prices Soar

The Indian stock market experienced a significant decline on Thursday, with the Sensex plummeting over 600 points in early trade. The 30-share BSE Sensex dropped to 74,189.55, while the 50-share NSE Nifty fell to 23,222.55.

The sharp spike in crude oil prices above $102 per barrel and rising US Treasury yields were cited as key factors contributing to the market's downturn. Brent crude, the global oil benchmark, reached a high of $102.2 per barrel.

Experts warned that these global headwinds could continue to weigh on the market, making a swift recovery unlikely in the near future. Meanwhile, the National Stock Exchange (NSE) made its market debut, listing with an IPO worth Rs 22,569 crore that received an overall subscription of 5.71 times.