Indian Sensex falls 417.49 points as Brent crude hits $97
Indian stock markets had a rough Thursday, with the Sensex dropping 417.49 points and the Nifty falling by 41.
Rising crude oil prices and ongoing geopolitical tensions made investors nervous, despite some positive signals from foreign investors.
Vinod Nair from Geojit Investments summed it up: even with fresh FII inflows and decent global cues, external pressures, especially Brent crude jumping to $97 a barrel, kept the mood cautious.
Realty rises 2.58% Asian markets mixed
Not all sectors felt the pinch. Realty stocks were actually up by 2.58%, followed by gains in media, PSU banks, private banks, and metals.
On the flip side, auto, FMCG, IT, and pharma saw losses.
Asian markets were mixed too, while Japan, Hong Kong, and Taiwan closed lower, Singapore and South Korea managed to stay positive.
Analysts optimistic after India's sovereign upgrade
Even with today's drop, analysts remain optimistic about India's future thanks to strong growth momentum and a recent sovereign rating upgrade.
They believe these positives will help steady the economy through short-term bumps like high oil prices or global uncertainty.