Why is market falling today? Sensex drops over 700 points, Nifty below 23,700. 7 key factors behind D-Street selloff

Sensex tumbled over 700 points to 75,700 and Nifty 50 fell 223 points to 23,700 on Friday, wiping off more than Rs 3 lakh crore from total BSE market capitalisation. The broad-based selloff was triggered by multiple headwinds: escalating Iran-US conflict pushing oil prices above $100 per barrel, the rupee weakening to 96.63 against the dollar, persistent FII selling of nearly Rs 3,000 crore, weak Asian markets, and rising expectations of a US Fed rate hike in September.