Rs 6 lakh cr wiped out! Sensex slumps over 700 points, Nifty below 25,100. What drove market’s sudden slide?

Indian equities experienced a sharp decline on Friday, with the Sensex and Nifty erasing early gains due to persistent foreign institutional investor (FII) selling. FIIs offloaded equities worth Rs 2,550 crore on Thursday, marking the 13th consecutive session of net selling in January, significantly impacting market sentiment and capitalization.