Stock Market Crash: Sensex Tumbles 1200 Points, Nifty Cracks Below 23,100 – Key Reasons Behind Sell-Off

Stock markets went for a spin on September 24 amid a spike in global bond yields, rising crude oil prices and growing bets on a US Federal Reserve rate hike.

The BSE Sensex crashed over 1,250 points, or 1.67 per cent, to trade around 73,575, while the NSE Nifty 50 tumbled nearly 400 points, or 1.70 per cent, to quote around the 23,050 level.

The sell-off spread across the broader market, with the Nifty Midcap 100 and Nifty Smallcap 100 declining over 2.20 per cent and 1.65 per cent, respectively.

India VIX, the market's fear gauge, spiked over 27 per cent to 13.17. The India VIX measures the market's expectation of volatility over the next 30 days, with a higher reading indicating greater uncertainty and expectations of sharper price swings.