India’s BSE Sensex fell about 1.7% to close at 73,580.5 on Thursday, its lowest level since June 8, as broad-based selling swept the market. Investor sentiment weakened amid higher crude oil prices, rising U.S. Treasury yields and expectations of a Federal Reserve rate hike, while geopolitical uncertainty persisted. Financial stocks bore the heaviest pressure after the insurance regulator proposed changes to commissions and distribution payouts. The proposals weighed on insurance distributors, banks and non-bank lenders with significant insurance distribution businesses. Bajaj Finance, Bajaf Finserv, Axis Bank, Kotak Mahindra Bank and HDFC Bank fell between 1.2% and 5.5%. Other major laggards included IndiGo, Trent, Mahindra & Mahindra, Reliance, Asian Paints, Bahrti Airtel and L&T.