# Sensex, Nifty fall as banking stocks and crude oil weigh

2026-08-07T11:59:31+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

The Sensex fell 455.59 points (0.58%) to close at 78,499.17 and the Nifty dropped 65.35 points (0.27%) to 24,570.65 on Friday, ending a two-day gaining streak. Banking and financial stocks led the decline after the RBI issued draft guidelines barring NBFCs from offering revolving credit facilities. Bajaj Finance and Bajaj Finserv fell sharply, losing up to 5.9% and 4.18% respectively. Crude oil prices remained elevated with Brent trading near $82-83 a barrel after Iran published a draft plan that could restrict US and Israeli ships from transiting the Strait of Hormuz. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 17.86 crore. A new auction mechanism for F&O shares, introduced on Monday, has also contributed to market divergence this week.

## Coverage

- timesnownews.com <https://www.timesnownews.com/business-economy/markets/sensex-nifty-tumble-as-crude-oil-prices-rise-investor-sentiment-weakens-article-155361753>
- rediff.com <https://www.rediff.com/business/report/indian-stock-market-declines-sensex-nifty-fall-on-banking-stocks-crude-oil-prices/20260807.htm>
- rediff.com <https://www.rediff.com/business/report/indian-stock-markets-rise-on-aug6-rbi-holds-rates-crude-oil-prices-fall-new-auction-mechanism/20260806.htm>

Tags: crude oil, Iran, Nifty, RBI guidelines, Sensex, Strait of Hormuz
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