Markets Slide Amid Global Cues; Insurance Stocks Plunge On Draft NormsIndian benchmark indices opened lower, with the Nifty declining around two hundred points and slipping towards 23,200 levels amid rising crude oil prices and spiking US Treasury and domestic bond yields. Financial and banking counters led the losses across sectors, while insurance stocks witnessed severe selling following draft consultation proposals by the insurance regulator to tighten commission caps from financial year 2028. PB Fintech, Turtlemint, Max Financial, and ICICI Prudential Life recorded sharp cuts in early trade. Meanwhile, primary market activity remained in focus with anticipation surrounding the National Stock Exchange listing, even as recent entrants like Hero Motors and SS Retail traded higher. In another development, the Food Safety and Standards Authority of India initiated penal action against major quick-commerce and delivery platforms, including Amazon, Swiggy Instamart, BigBasket, Flipkart India, and Zepto, citing non-compliance, misleading claims, and listings of prohibited food articles.
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