Sensex tumbles nearly 900 points: Top factors behind Thursday's market fall

The 30-pack index had dropped over 900 points intra-day to hit a low of 61,715.61, while the 50-pack index hit a low of 18,388

Weak sentiments across global markets pushed domestic markets lower in Thursday's trade after the US Federal Reserve (US Fed) hinted interest rates to peak above 5 per cent by the end of 2023. Moreover, the central bank raised interest rates by 50 basis points (bps) in its December meeting to 4.25-4.5 per cent, the highest since 2007.

Further, later today, the European Central Bank and Bank of England are due to announce their interest rate decisions.

The S&P BSE Sensex cracked 879 points, or 1.4 per cent, to settle at 61,799. The Nifty50, meanwhile, slipped below the 18,450 level