FPI selling and decline in heavyweights pull Sensex 637 points down

A combination of foreign portfolio investor (FPI) selling amidst nervousness ahead of the release of Fed minutes and a decline in index majors led to the decline in Indian equity benchmark indices on Wednesday. Reports of the rising death toll in China after the easing of COVID curbs added to nervousness. The Sensex fell 637 points to end the session at 60,657 a decline of 1.04 per cent and the Nifty fell 189 points to end the session at 18,043 a decline of 1.04 per cent. The decline in markets wiped out investor wealth worth Rs 2.09 trillion on BSE.