Sensex down 622.71 points, Nifty falls 184.85 amid oil prices
The Indian stock market had a rough Tuesday, with the Sensex down 622.71 points, or 0.86%, at 72,149.01 and the Nifty down 184.85 points.
The main reasons? Soaring crude oil prices (Brent crude was trading at $107.12 a barrel) and steady selling by foreign investors.
Since India is one of the world's biggest crude importers, these price hikes can really strain the economy.
Financial firms hit, ₹5,353.22cr outflow
Financial companies were especially hard hit: big names like Bajaj Finance, HDFC Bank, and Kotak Mahindra Bank all saw major drops after new regulatory proposals targeting insurance-linked firms.
Meanwhile, foreign investors pulled out ₹5,353.22 crore from Indian stocks despite domestic buyers stepping in.
Global challenges like high US Treasury yields are making things tougher for Indian markets right now.