Indian Sensex drops 583 points as oil and tensions bite
Indian stock markets closed lower on Thursday, with the Sensex dropping 583 points to 76,913.50 and the Nifty slipping 180 points to 23,997.55.
The fall was mainly due to rising crude oil prices and ongoing geopolitical tensions.
Still, more than 100 stocks, including Coal India and ONGC, managed to hit their highest levels in a year.
Rupee falls to 95.33 per dollar
Not all sectors moved in the same direction: metals, banking, and realty saw losses while IT stocks held up well.
Bajaj Auto and Sun Pharma were among the few gainers; Bajaj Finance also edged up after a positive report.
Meanwhile, the rupee dropped to an all-time low of 95.33 per dollar before closing at 94.92, pressured by high oil prices and strong demand for dollars.
A few companies like Indian Hume Pipe and Newgen Software bucked the trend with gains thanks to new contracts or solid earnings, even on a tough market day.