In the previous session, Sensex tanked 778 points while Nifty closed at a five-month low on Tuesday amid surging oil prices, geopolitical tensions and weak trends in global markets. The 30-share BSE Sensex tumbled 777.94 points, or 1.04 per cent, to settle at a three-month low of 74,003.82, dragged by losses in blue-chip banking, auto and oil & gas shares. The index opened higher but lost steam in late-morning deals as selling gathered pace. The barometer later tanked 787.73 points, or 1.05 per cent, to a day’s low of 73,994.03.The 50-share NSE Nifty dropped 279.50 points, or 1.19 per cent, to end at 23,118.60, the lowest closing level since April. “Concerns about a prolonged high-interest-rate environment, particularly in the US, kept Treasury yields near multi-year highs and continued to dampen emerging market sentiment amid persistent foreign outflows,” Vinod Nair, Head of Research, Geojit Investments Limited told PTI.
