Sensex falls nearly 600 to 77,258.76 as oil tops $100
Business
Indian stock markets had a rough Thursday: Sensex fell nearly 600 points to 77,258.76, while Nifty dropped below 24,200.
The slide was fueled by rising global oil prices (now over $100 a barrel thanks to U.S.-Iran tensions), foreign investors pulling money out, and worries around upcoming earnings reports.
Indian banks and IT stocks slide
Banking and IT stocks took the biggest hits: SBI was in focus ahead of its results, also in the red.
Britannia shares dipped on weak global sales outlooks; L&T slipped after reporting a profit dip and warning of slower growth amid Middle East uncertainties.
With foreign investors still selling off their holdings, market uncertainty isn't going away soon.