Five-day losses push Sensex below 77,700 as Brent hits $89
Business
The Indian stock market had another rough Monday, with the Sensex falling over 300 points to trade below 77,700 and Nifty slipping under 24,300.
This is the fifth straight day of losses, mostly thanks to rising oil prices: Brent crude just hit $89 a barrel.
IT and PSU stocks hit hardest
IT and PSU stocks took the biggest hits today, while mid-cap and small-cap indices also dipped slightly.
Companies like Hindustan Unilever and SBI were among the top losers. Still, a few names like Axis Bank and M&M managed to edge up.
Experts say markets will likely stay choppy for now, but mid- and small-cap stocks could keep attracting interest because their recent earnings have been strong.