Indian stocks fall on bank weakness

On August 7, 2026, Indian benchmark indices S&P BSE Sensex and NIFTY 50 ended lower after two days of gains, dragged by banking and financial stocks and elevated crude oil prices. The S&P BSE Sensex dropped 455.59 points (0.58%) to 78,499.17, while the NIFTY 50 dipped 65.35 points (0.27%) to 24,570.65. Bajaj Finance and Bajaj Finserv were the top laggards, falling 5.90% and 4.18% respectively, amid concerns over a draft framework from the State Bank of India proposing tighter norms for revolving credit products offered by non-bank financial companies. Other laggards included ICICI Bank, Trent Limited, Axis Bank, and Asian Paints. Brent Crude traded above $80 per barrel, dipping slightly to $82.20, as geopolitical uncertainty around the Strait of Hormuz persisted. Foreign Institutional Investors offloaded equities worth ₹17.86 crore. The Bombay Stock Exchange and National Stock Exchange of India introduced a new auction mechanism for shares with futures and options contracts, effective August 3, to improve price discovery. Asian markets were mixed, with KOSPI and Nikkei 225 lower, while Shanghai Stock Exchange Composite Index and Hang Seng Index rose. European markets traded higher, while United States markets ended lower on Thursday.