Stock Market
Sensex sinks 1,100 pts as oil hits highs; Nifty under pressure
Mumbai/IBNS: The Indian stock market witnessed a sharp sell-off on Thursday, with the BSE Sensex plunging over 1,100 points and the NSE Nifty 50 falling more than 300 points.
The downturn came amid a surge in global oil prices, which hit historic highs, dampening investor sentiment.
Brent crude rose nearly 4 percent to trade at USD 122.8 per barrel, triggering concerns over inflation and economic stability.
Meanwhile, the Indian rupee weakened further, touching an all-time low against the US dollar as market sentiment remained fragile.
Among the 30 Sensex constituents, major losers included InterGlobe Aviation, UltraTech Cement, Mahindra & Mahindra, Axis Bank, and Adani Ports.
On the other hand, stocks like Bajaj Finance, Bajaj Finserv, Tech Mahindra, Infosys, and Power Grid Corporation of India managed to post gains, offering some support to the broader market.
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