Stocks slip, rupee drops as crude spikes to 5-week high
Stock markets in India declined on Wednesday as crude oil prices surged to a five-week high amid escalating tensions in the Middle East. The Nifty 50 fell 0.41% to 24,089.20, while the BSE Sensex dropped 0.5% to 77,079.37, and the rupee weakened by 11 paise to 96.36 against the US dollar. Ten of the 16 major sectors reported losses, with the pharma index down 1.6% following a new tariff plan on imported medicines announced by US President Donald Trump.