Indian markets slump as Nifty slips below 22,900, Sensex sinks
Markets had a rough Monday: Nifty slipped below 22,900 for the first time since April, dropping nearly 300 points.
Sensex lost over 1,050 points as weak vibes spread across most sectors.
Small- and midcap stocks also dipped about 1%, while the VIX (a measure of market nerves) spiked over 12%, hinting at choppier days ahead.
Rate worries drag PSU banks, metals
Worries about rising interest rates dragged down PSU banks, gold finance, and metal stocks. Still, Allied Blenders and Borosil managed to buck the trend with gains.
Out of all Nifty stocks that fell today, only Dr. Reddy's and Infosys finished in the green.
Globally, Asian markets were mostly in the red too, but European markets actually rose thanks to strong UK housebuilding stocks.
Plus, oil prices climbed past $107 a barrel after Trump dismissed Iran's proposal.