The Indian stock market experienced a sharp decline in early trading today, as a stronger-than-expected US jobs report reduced expectations of immediate interest rate cuts by the Federal Reserve.
This news dampened investor sentiment and added to ongoing concerns over slowing corporate earnings.
The Nifty 50 index dropped by 1.01%, reaching 23,195.4 points,
while the BSE Sensex saw a decrease of 0.97%, settling at 76,629.9.
Additionally, the Indian rupee weakened by 5 paise, opening at a record low of 86.20 against the US Dollar, reflecting the broader market turbulence.