Indian stocks slide as Sensex drops 813.20 amid crude, yields
Business
The Indian stock market had a rough Wednesday, with the Sensex dropping 813.20 points to 74,015.05 and the Nifty falling by 265 points to 23,181.80.
The main culprits? Soaring crude oil prices (almost $91 a barrel) and rising US Treasury yields, which made investors nervous.
HDFC Life plunges over 5%
Financial stocks took the biggest hit: HDFC Life plunged over 5%, while Bajaj Finance and Axis Bank also saw major losses.
Most Nifty stocks were in the red, showing just how cautious investors felt.
Interestingly, pharma company Cipla managed to rise nearly 2% despite all the selling.
For now, experts say Nifty has support at 23,040 and resistance at 23,350 if you are watching those numbers.