The Nifty index saw a steep decline, closing at 23,883—its lowest level in nearly five months—as sustained selling by foreign investors and disappointing earnings from major firms weighed on the market.
The Nifty dropped 258 points (1.07%), while the Sensex fell by 821 points (1.03%) to close at 78,675, hitting a low last seen in August. Since reaching all-time highs in late September, the Sensex and Nifty have dropped 8.3% and 9%, respectively. Investor interest shifted to U.S. markets, further pressuring Indian indices.