Sensex and Nifty slip after HDFC Bank 2nd-quarter FY27 results
The Indian stock market had a rough Monday: Sensex was down 327.02 points at 74,402.25 around 10am and Nifty declined to 23,048.45, down 97.70 points, around 10am.
Banking stocks led the drop, especially after HDFC Bank's second-quarter FY27 results over the weekend, with concerns over pressure on net interest margins and modest earnings growth weighing on sentiment.
Global cues hit banks and tech
It wasn't just local news dragging things down. Banking stocks across the board felt the heat, while weak signals from global markets and worries about funding for AI investments hit tech shares in Asia.
To top it off, Brent crude fell 1.5% to $108.27 a barrel, while West Texas Intermediate declined 0.6% to $100.83 a barrel, making investors even more cautious both in India and abroad.