All this selling pressure pushed the Nifty 50 index to its lowest point in nearly a year, and the rupee also slipped against the dollar.
Oil prices shot up after disruptions near the Strait of Hormuz: tough news for India since we import most of our oil.
These global jitters have led brokerages to turn cautious on India — for example, Morgan Stanley downgraded India from overweight to equal weight, while Goldman Sachs cut its 2026 growth forecast to 5.9% from 6.5%.