Indian stocks tumble as West Asia attacks push oil prices
Business
India's stock market had a rough Thursday (Sensex fell 460.30 points and Nifty dropped 123.70 points) after attacks in West Asia sent crude oil prices climbing.
Investors got jittery about possible oil supply issues and rising geopolitical tensions, leading to the sharp dip.
India mid and small caps slump
Mid- and small-cap stocks took an even bigger hit than the main indices.
With everyone watching for signals from the upcoming US Fed meeting, caution ruled the day.
Meanwhile, the rupee slid by 44 paise to ₹94.82 per US dollar as higher oil prices threatened to push up India's import bills, despite RBI's efforts to steady things.