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Stock Market Crash: Stock market declines due to increase in crude oil prices; Rupee weakens 11 paise against the dollar

  
  
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  The Indian stock market started with a decline on Wednesday amid rising crude oil prices in the international market. The market was seen trading in the red for the third consecutive day. In the initial trade, the 30-share BSE Sensex fell 403.54 points to 77,066.06. On the other hand, the 50-share NSE Nifty was also trading at 24,070.05, down 114.75 points. The major losers in the Sensex were Axis Bank, State Bank of India (SBI), Housing Development Finance Corporation (HDFC) Bank, ICICI Bank, Bank (ICICI Bank), Interglobe Aviation, Sun Pharma, Adani Ports and Ultratech Cement were among the gainers. On the other hand, stocks like Titan, Eternal, Maruti and Asian Paints were trading with an increase. Rupee weakens 11 paise against the dollar On the other hand, the Indian rupee has also come under pressure due to increased demand for the US dollar in the international market and growing concerns about the safety of oil tankers in the Red Sea and the Strait of Hormuz. The rupee opened at 96.36 against the US dollar in the interbank forex market, while it closed at 96.25 on Tuesday.
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