Stocks slip, rupee drops as crude spikes to 5-week high
Rupee dropped 11 paise to 96.36 against the US dollar in early trade on Wednesday.
Stock markets opened lower on Wednesday as crude oil prices jumped to a more than five-week high on the escalating Middle East conflict.
Nifty 50 shed 0.41% to 24,089.20, while the BSE Sensex tumbles 0.5% to 77,079.37 by 9:22 am.
The rupee also dropped 11 paise to 96.36 against the US dollar in early trade on Wednesday.
Ten of the 16 major sectors recorded losses while broader small-caps and mid-caps fell 0.4% and 0.2%, respectively, reported PTI.
The pharma index lost 1.6% after US President Donald Trump outlined a phased tariff plan for imported generic medicines, granting drugmakers a two-year window before duties take effect.
Bandhan Bank plummeted 10% despite logging a stronger-than-expected profit, after the lender cut its fiscal-year return-on-assets outlook, citing narrower net interest margins and higher operating expenses.
Bajaj Auto and TVS Motor gained 4% and 3.5% following a quarterly profit rise.
Stock markets opened lower on Wednesday as crude oil prices jumped to a more than five-week high on the escalating Middle East conflict.
Nifty 50 shed 0.41% to 24,089.20, while the BSE Sensex tumbles 0.5% to 77,079.37 by 9:22 am.
The rupee also dropped 11 paise to 96.36 against the US dollar in early trade on Wednesday.
Ten of the 16 major sectors recorded losses while broader small-caps and mid-caps fell 0.4% and 0.2%, respectively, reported PTI.
The pharma index lost 1.6% after US President Donald Trump outlined a phased tariff plan for imported generic medicines, granting drugmakers a two-year window before duties take effect.
Bandhan Bank plummeted 10% despite logging a stronger-than-expected profit, after the lender cut its fiscal-year return-on-assets outlook, citing narrower net interest margins and higher operating expenses.
Bajaj Auto and TVS Motor gained 4% and 3.5% following a quarterly profit rise.
