Sensex drops 582 points on global market weakness

Volatility persisted on Dalal Street with a downward trend, despite RBI maintaining the status quo on rates. The sensex dropped 582 points, closing at 78,886, while the Nifty declined by 181 points to 24,117. Foreign funds remained net sellers, marking the fifth consecutive session, whereas domestic funds were net buyers. The ongoing global uncertainty contributed to market caution.