Sensex Falls Over 500 Points on RBI's Draft Lending Norms

On Friday, the stock market in India started the day with a lot of people selling their shares.

Because so many people were selling, the main stock market numbers, called the Sensex and the Nifty, went down.

One big reason was that the Reserve Bank of India, which is like the boss of banks, shared new rules it is thinking about making for companies that lend money.

These companies, called NBFCs, were worried the new rules could hurt some of their loan products, so their shares fell.

Two companies called Bajaj Finance and Bajaj Finserv fell the most.

Another reason the market went down is that oil got more expensive because people were worried about ships having trouble going through a very important waterway called the Strait of Hormuz.

India needs to buy a lot of oil from other countries, so expensive oil is bad news for the economy.

But not everything went down—technology companies, called IT companies, did really well and went up.

Some examples are TCS, Tech Mahindra, HCLTech and Infosys.

The market is now waiting to see what happens next with the RBI's new rules, oil prices and company earnings.