India's Sensex drops over 300 points on oil price spike
Business
Indian stock markets had a rough start this Tuesday, with the Sensex dropping over 300 points and Nifty falling nearly 100 points.
The main reason? Oil prices shot up after new tensions in West Asia, making investors nervous not just here but around the world.
Banks fall, TCS shines, HCL lags
Banking and finance stocks took a hit, but IT shares like TCS managed to shine thanks to strong earnings, while HCL Technologies was among the major laggards.
The oil price jump, triggered by US moves against Iran, also dragged down Asian markets, with big drops seen in Japan and across the region.
Experts say rising oil costs could make things tougher for India's currency and foreign investments going forward.