India’s BSE Sensex extended losses on Thursday, ending down around 1.7% at 73,580.5 — its lowest close since June 8 — amid broad-based selling pressure. Sentiment weakened as rising crude oil prices, higher U.S. Treasury yields, and expectations of a Federal Reserve rate hike combined with ongoing geopolitical uncertainty.
Heavyweight financial stocks led the decline after the insurance regulator proposed changes to commission structures and distribution payouts. The proposals hit sentiment toward insurance distributors, banks, and non-bank lenders with substantial insurance distribution operations. Bajaj Finance, Bajaj Finserv, Axis Bank, Kotak Mahindra Bank, and HDFC Bank fell between 1.2% and 5.5%.
Other major laggards included IndiGo, Trent, Mahindra & Mahindra, Reliance Industries, Asian Paints, Bharti Airtel, and Larsen & Toubro (L&T).
