Sensex slides 900.50 to 72,995.24 amid 7th straight weekly decline
Business
India's stock markets had a rough session: Sensex tumbled 900.50 points to 72,995.24 at 9:42am and Nifty was below the 23,000 mark at 9:42am.
This is now seven consecutive weekly fall for both indices, mostly thanks to rising oil prices and foreign investors pulling out their money.
Brent crude rises to $106.61
Brent crude rose 2.20% to $106.61 a barrel, making imports costlier and adding pressure on inflation.
Big finance stocks like Bajaj Finance and HDFC Bank also fell after proposed rule changes for insurance commissions.
Meanwhile, foreign investors sold off nearly ₹19,000 crore in September alone, making markets even shakier and sending India VIX jumped 10.73%.