Indian Stock Market Indices Decline Amid Bank Stocks and Crude Oil Price Worries

The Indian stock market indices, Sensex and Nifty, declined on August 7 after two days of gains. The 30-share BSE Sensex dropped 455.59 points, or 0.58%, to settle at 78,499.17.

Bajaj Finance led the laggards with a 5.90% decline, followed by Bajaj Finserv at 4.18%. Other major banks such as ICICI Bank and Axis Bank also faced losses. However, Tata Consultancy Services, Mahindra & Mahindra, State Bank of India, and Tech Mahindra managed to stay in the green.

The Brent crude price, which has been a concern for markets globally, dipped 0.35% to $82.20 per barrel. Foreign Institutional Investors offloaded equities worth ₹17.86 crore on August 6.