Crude jumps nearly 4%, Indian markets slide, Nifty below 24,000
Business
Indian stock markets had a rough Wednesday, with the Nifty 50 slipping below 24,000 and the Sensex dropping more than 700 points.
The main reason? Crude oil prices shot up nearly 4% to $94.40 a barrel, thanks to ongoing conflicts in West Asia.
This made investors nervous, leading to widespread selling and a clear dip in market confidence.
Midcap smallcap slide, FMCG auto up
It wasn't just the big indices: midcap and smallcap stocks also took a hit, falling more than 1%.
Sectors like banking and IT saw noticeable drops too.
On the brighter side, FMCG stocks managed a small gain (up 0.6%) and auto shares squeaked out a slight rise (0.2%), offering just a bit of relief on an otherwise tough day for the markets.