Sensex and Nifty fall as crude rises on U.S.-Iran tensions
Business
Indian stocks broke their four-day winning streak, with Sensex dropping 104 points and Nifty down by 32 points.
The main reason? Rising crude oil prices fueled by fresh U.S.-Iran tensions, which led investors to book profits and pull back a bit.
Broader indices lose ₹2L/cr it gains
Broader indices like midcaps and smallcaps also dipped, wiping out about ₹2 lakh crore from total market value.
Most sectors ended lower: real estate, metals, and pharma took the biggest hits.
On the bright side, IT stocks actually gained as earnings season approaches.
Analysts think Nifty might hover around 24,000-24,200 for now. As one expert put it, "24,600 may act as the immediate hurdle," so things might stay choppy until global tensions cool off.