Indian Stock Market Tanks Amid Crude Oil Price Surge
The Indian stock market saw a sharp decline on Thursday due to rising crude oil prices and weak global market trends. The BSE Sensex plummeted 632.68 points, while the NSE Nifty dropped 216.15 points in early trade.
The spike in Brent crude prices above $100 per barrel had a significant impact on market sentiment. Experts attribute the market's weakness to this surge and rising US 10-year bond yields, making a smart recovery appear remote.
Bajaj Finance and Bajaj Finserv were among the top laggards in the banking and NBFC stocks segment. However, Tech Mahindra, Sun Pharma, HCL Tech, ICICI Bank, and Tata Consultancy Services showed positive gains.