Stock Market Plunge: A Deep Dive into Today's Turmoil

Today, the Indian stock market witnessed a significant downturn, with the BSE Sensex and Nifty50 indices experiencing a sharp decline. This was primarily driven by a combination of factors including a selloff by Foreign Institutional Investors (FIIs), concerns over the Human Metapneumovirus (HMPV), and a cautious stance towards the upcoming Q3 earnings season.

FII Selloff: A major factor contributing to the market's decline was the withdrawal of Rs 4,227.25 crore worth of equities by FIIs, following a brief pause in their selling spree.

HMPV Concerns: The confirmation of HMPV cases in India, amidst reports of a virus outbreak in China, added to the investors' anxiety, leading to a cautious approach in the market.

Earnings Season: As the Q3 earnings season approaches, investors are adopting a wait-and-watch strategy, concerned about the tepid growth prospects of major companies.

In addition to these factors, the weakening rupee and poor performance in Asian markets further exacerbated the situation, leading to a significant drop in both the BSE Sensex and Nifty50 indices.