Sensex falls 300.77, Nifty down 124.80 as crude nears $90
Business
Indian stock markets started the week in the red, with the Sensex falling 300.77 points and Nifty down 124.80 points on Monday morning.
The main reason? Crude oil prices jumped to nearly $90 a barrel after US carried out strikes on Iranian targets, making investors worry about higher costs for India and possible inflation.
Foreign outflows top ₹5,000cr in India
Foreign investors pulled out over ₹5,000 crore from Indian shares on Friday as global risk appetite faded.
Japan's Nikkei and South Korea's markets also took a hit. Plus, the rupee slid to ₹95.48 against the dollar, which means imports (like oil) get even pricier.
With MSCI index changes coming up and all these pressures piling on, investors are playing it safe for now.