Sensex down 561, Nifty slips nearly 159 as crude rises
Business
Indian stock markets had a rough Tuesday, with the Sensex dropping 561 points and Nifty slipping by nearly 159 points, both ending close to their session lows.
Rising tensions in the Middle East and higher crude oil prices weighed heavily on investor sentiment.
Even midcap and smallcap stocks weren't spared, falling by 0.4% and a full 1%.
Pharma stocks rise as rupee weakens
Most sectors saw losses, but pharma stocks stood out with gains thanks to strong showings from Sun Pharma, Apollo Hospitals, and Dr Reddy's Labs.
Among individual movers: HCL Tech fell over 4% despite solid earnings; Biocon jumped 6% after a big block deal; Welspun Corp climbed 4% on new orders worth ₹1,400 crore.
Meanwhile, the rupee weakened for the second day straight, closing at ₹96.20 against the dollar.