Not the kind of day investors were hoping for.
The Sensex fell 715 points, slipping below 76,800, while the Nifty dropped 191 points to close at 23,996.25, ending the session below the key 24,000 level.
So, what's dragging the market down?
• Brent crude is hovering near a five-week high of around $95, raising concerns about inflation and higher import costs.
• Foreign Institutional Investors (FIIs) continue to pull money out of Indian equities, adding selling pressure across sectors.
Market experts aren't expecting a quick turnaround either.
Motilal Oswal's Siddhartha Khemka says Indian markets are likely to remain sideways with a slight negative bias, as investors keep an eye on three major global triggers:
• Rising geopolitical tensions
• The European Central Bank's upcoming interest rate decision
• U.S. weekly jobless claims data
In short, it's not just company earnings moving the market anymore. Global events are calling the shots—and until those uncertainties ease, volatility is likely to stick around.