Indian stocks slide amid oil rise, weaker rupee and inflation
Indian stock markets just had their roughest week in two months: Nifty 50 dropped 2.2% and Sensex slid 2.7%.
The main reasons? Rising global oil prices, a weaker rupee, and fresh worries about inflation.
It's the first major dip since mid-March, when things were even shakier.
Indian realty stocks fall nearly 8%
Real estate stocks took the hardest hit, losing nearly 8%, as higher bond yields and inflation made investors nervous.
IT shares bounced back a bit on Friday but still ended up as one of the weakest sectors after autos.
With Brent crude staying above $100 a barrel, fuel prices jumped by ₹3 per liter (the first major fuel price hike in nearly four years), which could mean higher costs for everyone and tighter margins for companies.
The rupee also slipped past 96 per US dollar, adding to market jitters.