Sensex drops 358 pts as Trump targets Indian oil imports; weak IT stocks, mixed global cues weigh on investor sentiment.

• Nifty IT index slipped 0.66% after recent gains; major IT stocks like Infosys, TCS, and Coforge traded lower.
• India defends Russian oil trade as Trump threatens steep tariffs; calls EU, US trade with Russia ‘hypocritical’.
• Services PMI rose to 60.5 in July; IPO of Highway Infra oversubscribed 4.66 times, showing strong investor interest.