Why market fell today? Sensex slumps 583 pts, Nifty below 24,000; 7 key triggers

Indian benchmark indices experienced a sharp selloff on Thursday, erasing nearly Rs 5 lakh crore from the market capitalisation. Sensex closed down 583 points at 76,913, while Nifty fell over 180 points to close at 23,998. The sell-off was driven by concerns about geopolitical tensions, rising oil prices, and the Federal Reserve's hawkish stance on inflation. Global markets also dipped as oil prices surged above $120 per barrel. Hindustan Unilever (HUL), Tata Steel, and UltraTech Cement were among the top losers on the Sensex. However, Sun Pharma emerged as the top gainer.