Sensex Falls 571 Points as Foreign Investors Keep Selling
The Sensex fell 570.59 points to 71,909.70 on October 1, its fourth straight losing session.
The Nifty dropped 198.50 points to 22,421.95. Nifty Auto was the worst sector, down 3.46 percent, while IT was the only gainer at 2.17 percent.
Foreign investors sold Rs 10,148.41 crore on September 30, their fifth straight day of selling. Domestic investors bought Rs 11,271 crore, cushioning the fall.
September saw foreign selling of about Rs 35,861 crore. The rupee touched 96.3150, its weakest in two months.
US bond yields rose above 5.3 percent. Markets are closed on October 2 for Gandhi Jayanti.
Analysts say global rate fears are driving the selloff.
The Nifty closed at 22,421.95, down 198.50 points. Auto stocks led the fall, dropping 3.46 percent, while IT gained 2.17 percent. Foreign investors have sold for five straight sessions. Markets reopen on October 3 after the Gandhi Jayanti holiday. Analysts expect volatility to continue.
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