Sensex and Nifty slip amid Middle East tensions, regulatory uncertainty
Friday wasn't great for the Indian stock market: both Sensex and Nifty slipped after a short recovery run.
The drop was mostly because banking and finance stocks took a hit, thanks to rising tensions in the Middle East and some uncertainty around financial regulations.
Bajaj Finance and Bajaj Finserv decline
Bajaj Finance and Bajaj Finserv were among the hardest hit, with losses of 5.90% and 4.18%.
ICICI Bank, Axis Bank, Trent, and Asian Paints also dipped. On the bright side, TCS, Mahindra & Mahindra, SBI, and Tech Mahindra provided support.
High crude oil prices (more than $82 a barrel) kept investors worried about inflation.
Foreign investors sold off shares worth ₹17.86 crore on Thursday, adding to the gloomy mood.
Asian markets had mixed results as everyone kept an eye on global events around the Strait of Hormuz.