Sensex slips as President Trump's pushback sends oil above $110
Indian stock markets took a hit this morning, with the Sensex trading around 77,195 and Nifty slipping below 24,100.
The main reason? Tensions flared up between Iran and the US after President Trump pushed back against Iran's idea to reopen the Strait of Hormuz.
That news sent oil prices jumping past $110 a barrel for a bit, making things even shakier for investors.
Nifty smallcap and midcap gain
Even though most sectors felt the heat, some smaller stocks actually held their ground: Nifty Smallcap 100 and Midcap 100 both managed small gains.
On the flip side, PSU banks dropped sharply by about 1.5%.
Big names like Adani Ports, TCS, L&T, and M&M saw gains around 1%, while State Bank of India, Axis Bank, Sun Pharma, and IndiGo slipped by roughly the same amount.
Interestingly, more stocks rose than fell on the NSE today, showing just how mixed investor reactions were in this unpredictable market.