Rs 8 lakh crore selloff! Sensex plunges 1,400 points from day’s peak as bulls lose steam; 5 triggers

Indian benchmark indices Sensex and Nifty erased early gains sharply, with Sensex plunging around 1,400 points from the day's high to close near 73,258 and Nifty falling below 22,700, wiping out over Rs 8 lakh crore in market capitalisation. The selloff was triggered by surging oil prices (Brent crude crossing $110 per barrel on Middle East supply concerns) and rising US Treasury yields (10-year at 5.12%), which together pressured risk assets. Broader markets fell harder, with Nifty Midcap 100 and Smallcap 100 indices dropping up to 3%, while Nifty Auto, Metal and Consumer Durables indices declined over 2% each.