Sensex and Nifty crash 1.5% amid global headwinds and insurance rules

The BSE Sensex tumbled 1,264 points or 1.54% to hit an intraday low of 73,563.92, while the Nifty 50 dropped 369 points to 23,046.15.

The broader market selloff erased nearly ₹4 lakh crore of investor wealth as BSE market capitalisation declined to ₹481.50 lakh crore.

Investor sentiment was battered by a toxic mix of surging US bond yields, high crude prices, a weaker rupee, and new insurance commission proposals.