Here's why Sensex crashed over 1,200 points in two days

Bears continued to weigh domestic markets for the second consecutive day as investors digested hawkish minutes from the US Federal Reserve’s (US Fed) December meeting, which signaled no rate cuts in 2023 until inflation is abated. Key indices the S&P BSE Sensex crashed over 1,200 points in two days to hit Thursday’s low of 60,049 levels, whereas the Nifty50 tumbled over 300 points to hit day’s low of 17,892 levels.
 

Broader markets, meanwhile, outperformed benchmark indices in today's trade as Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.5 per cent.

Sectorally, Nifty FMCG, Nifty Pharma, and