Sensex, Nifty Fall Again Today as Oil Holds Above $100 and HSBC Cuts India to Underweight
Indian stocks slipped further Thursday. By 1:02 p.m. IST, the Nifty 50 sat at 24,207.25, while the BSE Sensex registered 77,799.23. Oil prices stubbornly held above $100 a barrel, and HSBC’s downgrade of Indian equities to “underweight” added pressure. Both indices shed nearly 1% on Wednesday. Crude took center stage, but nerves were on edge well before that. HCLTech’s dimmer full-year growth view sent tech shares sliding Wednesday. “Weaker commentary on demand and near-term growth visibility” is muddying the sector’s profit outlook, according to Bajaj Broking’s Shashwat Singh.