Sensex down 100 pts, Nify below 22,600: FII outflows among key factors behind market decline

As per the latest business developments, The equities traded softer on Thursday as persistent foreign ​fund outflows continued to weigh on ‌risk sentiment, although easing oil price marks on prospects of US-Iran peace talks limited the ​downside.

At around 9:45 a.m., the Sensex was down 75.94 points or 0.10 percent at 72,404.35, while the broader Nifty declined to 22,562.60, down 57.85 points or 0.26 percent.

Key factors behind market slide

1) FII selling: Foreign flows stay a key headwind after FIIs extended their selling streak to a fifth session on September 30, offloading more than Rs 10,000 crore of Indian equities, against the backdrop of elevated US Treasury yields.

2) Weak indian rupee: The Indian indian rupee is poised to dip on Thursday, with elevated crude prices and US Treasury yields piling pressure on the currency while fading October The US central bank interest-rate gain bets offer little relief the 96 level.

3) Weak global cues: Asian equities traded largely subdued on Thursday after a difficult September for global bonds, with market participants assessing the implications of softer US inflation for the The US central bank's policy outlook. MSCI's broadest index of Asia-Pacific shares outside Japan declined 0.2 percent, while South Korea's Kospi eased 0.14 percent.