Sensex falls over 700 points as rupee hits record 95.55
Indian stock markets had a rough start this Tuesday, with the Sensex dropping over 700 points to 75,307 and Nifty slipping to 23,626.
The main reasons? Rising global tensions and the rupee hitting a record low of 95.55 against the dollar.
Foreign investors pulled out ₹8,438 cr
Soaring oil prices, now at $105 a barrel thanks to worries about disruptions in the Middle East, are making things tougher for India's energy-heavy economy.
IT stocks like Infosys and TCS fell up to 3%, leading market losses as foreign investors pulled out ₹8,438 crore just yesterday.
With global uncertainty high (especially after US President Trump called Iran's ceasefire demands "that piece of garbage they sent us"), analysts say everyone's watching oil prices and investor moves closely this earnings season.