Sensex Plunges 876 Points As Private Banks And Crude Prices Drag Markets
· Business · Times of India, Moneycontrol
Indian equity benchmarks suffered a sharp decline on Monday, with the BSE Sensex closing down 876 points at 73,852.90 and the Nifty50 falling 257 points to close below 22,900 at 22,888.95. Heavy selling in major private sector lenders, particularly Axis Bank and HDFC Bank, drove the losses after their second-quarter earnings fell short of market expectations. Axis Bank shares dropped roughly 5% following its report of a 38% year-on-year increase in standalone net profit to Rs 7,003 crore for Q2 FY27. Meanwhile, escalating geopolitical tensions in the Strait of Hormuz pushed Brent crude up to $109 per barrel, adding strong economic headwinds.
Why it matters
The sharp market correction erased nearly Rs 4.70 lakh crore in investor wealth, directly impacting retail and institutional portfolios amidst rising oil import pressures.
Read the original report — Times of India
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