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Reading: Stock Market Update: Sensex Drops 200 Points as IT Stocks Boost Nifty Amid Rising Oil Prices
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Stock Market Today Live, Aug 7: Sensex down 200 pts, Nifty reaches 24,600 led by IT stocks, rising oil prices; Bajaj Finance falls 4.5%
Breaking India News Today | In-Depth Reports & Analysis – IndiaNewsWeek > Economy > Stock Market Update: Sensex Drops 200 Points as IT Stocks Boost Nifty Amid Rising Oil Prices
Economy

Stock Market Update: Sensex Drops 200 Points as IT Stocks Boost Nifty Amid Rising Oil Prices

Indianewsweek By Indianewsweek August 7, 2026 52 Min Read
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ensex Today, Nifty 50 | Stock Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 7 August 2026.

Markets opened on a cautious note on Friday, August 7, with the Nifty 50 slipping to 24,606.35, down 29.65 points or 0.12 per cent from its previous close of 24,636, while the Sensex opened at 78,516.08 and was trading at 78,712.62, down 242.14 points or 0.31 per cent from its previous close of 78,954.76.

At 10:01 am, Sensex dropped 233.60 points (-0.30%) to 78,721.16; Nifty 50 shed 19.25 points (-0.08%) to trade at 24,616.75.

Seven of the 16 major sectors logged losses. The ‌broader small-caps and mid-caps were muted.

Bajaj Finance fell 4.5% and its holding company Bajaj ‌Finserv lost 3.1%, dragging financials 0.8% lower.

Brent crude futures rose for a third consecutive session, climbing above $83 a barrel on concerns over shipping through the ‌Strait of Hormuz after Iran, working with Oman, proposed restrictions on vessels deemed ⁠hostile.

Earnings will ⁠remain in focus, with State Bank of India, Titan Company, and Hindalco due to report quarterly results later in the day.

Follow our live coverage of Q1 results here

Crude oil gains as Iran plans to ban US, Israeli ships from Hormuz transit

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Crude oil gains as Iran plans to ban US, Israeli ships from Hormuz transit

Crude oil prices rise as Iran plans to ban US and Israeli ships from the Strait of Hormuz, impacting global markets.

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