Sensex tanks 796 points over rising oil prices, FPI selloff

In the second week of September, Dalal Street anticipated a stock market correction, despite the Sensex’s continuous rise. On Wednesday, the market saw a 796-point drop in the Sensex, closing at 66,801, due to factors like rising crude oil prices, a weakening rupee, and caution ahead of a US Federal Reserve rate decision. Nifty lost 232 points to close at 19,901, with foreign and domestic investors both selling off, resulting in a total market capitalization loss of Rs 2.9 lakh crore.