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India's Sensex slumps to 32-month low on oil surge, foreign exodus
India’s benchmark Sensex slumped to its lowest in 32 months on Thursday as surging oil prices, rising global bond yields and a weaker rupee heightened inflation concerns, adding to pressure from the central bank’s hawkish rate increase a day earlier. The Nifty 50 fell 1.64% to 22,231.8, and Sensex shed 1.44% to 71,593.24. This was 50-stock index’s lowest close in 18 months. The decline came as foreign investors stepped up selling, offloading a net 469.9 billion rupees ($4.86 billion) in nine days and taking year-to-date outflows to a record $30.4 billion. The benchmark 50-stock index has lost ...
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