From Coinpedia · By Anjali Belgaumkar
Indian equities tumbled sharply as the Nifty fell 1.5% to its lowest level in six months, wiping out over ₹5.1 trillion ($57 billion) in market value. The index is now on track for its eighth consecutive weekly loss, its longest losing streak in 25 years. The Sensex crashed over 1,000 points below 71,600, with the broader selloff erasing nearly ₹9 lakh crore from the BSE, driven largely by heavy foreign investor selling. The rupee slipped to ₹96.25 per dollar as crude oil pushed above $100 a barrel, adding further pressure. Analysts say the market is now at risk of falling below its 200-week moving average for the first time since COVID, a level that has historically triggered either a sharp bounce or a deeper crash over the past two decades.
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