Rs 6.8 lakh crore wiped out: Sensex tanks 984 points, Nifty below 23,600 as as inflation fears trigger sell-off

Indian stock markets experienced a significant drop on Wednesday, with the Sensex plummeting over 980 points and the Nifty falling below 23,600. This decline was primarily fueled by a surge in inflation, which dampened expectations of an interest rate cut in the near future. The slump was further exacerbated by disappointing corporate earnings and a consistent outflow of foreign investments.