Sensex drops over 200 points, Nifty tests 23,600 as Strait of Hormuz tensions rattle oil markets

Indian stock markets opened lower on Friday as oil prices increased. Concerns over Iran potentially closing the Strait of Hormuz impacted investor sentiment. Bajaj Finance and Bajaj Finserv shares led the declines on the Sensex. IT stocks like TCS and Tech Mahindra bucked the trend with gains. Analysts suggest market consolidation is likely before an eventual upside breakout.

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