Sensex drops nearly 1,000 points as Brent crude tops $107
Business
Stock markets had a rough Thursday, with the Sensex dropping by nearly 1,000 points and Nifty also taking a big hit.
The selloff was sparked by worries over rising crude oil prices (Brent crude shot past $107 a barrel) and growing tensions in West Asia, both of which made investors nervous about inflation and company profits.
IT, bank and midcap stocks struggle
IT giants like Infosys, HCLTech, and TCS saw sharp losses, dragging the whole sector down.
Big banks such as ICICI Bank, HDFC Bank, and Axis Bank also closed lower.
Even midcap and smallcap stocks struggled, though a few names like Trent and Bajaj Finance managed to hold up.
Overall market mood stayed pretty downbeat as volatility spiked sharply.