Sensex falls over 1,000 points despite 7.8% GDP growth
Business
The Sensex dropped over 1,000 points on Monday, surprising many since India's GDP just grew a solid 7.8% last quarter, beating expectations.
Still, the markets haven't been feeling it this year: the Sensex is down nearly 15%, and the Nifty about 13%.
Rising oil pressures rupee and economy
Rising oil prices (Brent crude now above $107 a barrel) and ongoing global tensions are putting pressure on India's economy, especially since the country imports most of its oil.
The rupee is under pressure too, and inflation could rise.
Meanwhile, foreign investors pulled out ₹17,131 crore from Indian stocks in September, but put some money into new listings instead, showing they're being extra picky in these unpredictable times.