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Investors’ wealth was eroded by nearly Rs 7 lakh crore as the stock markets took a heavy beating with the BSE Sensex tumbling 1,236 points or 1.5 per cent amid escalating geopolitical tensions between the US and Iran.
The 30-share BSE Sensex tumbled 1,236.11 points, or 1.48 per cent, to settle at 82,498.14. During the day, the benchmark nosedived 1,470.05 points, or 1.75 per cent, to hit an intraday low of 82,264.20.
The market capitalisation of BSE-listed firms slumped by Rs 6.79 lakh crore (Rs 6,79,210.1 crore) to Rs 465 lakh crore (Rs 4,65,22,014.57 crore ($5.13 trillion).
Selling pressure was widespread, led by IndiGo, followed by Mahindra & Mahindra, UltraTech Cement, Trent, Bharat Electronics Ltd, Adani Ports, Kotak Mahindra Bank, Reliance Industries, Tech Mahindra, ITC, Eternal and PowerGrid.
The sharp selloff in equities today was triggered by news of an imminent US strike on Iran. The US Vice President JD Vance’s statement that Iran didn’t meet all expectations of Washington and the President has the military option to strike Iran, sent fear in markets, VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.
He added that Brent crude shot up above $70 per barrel and the fear gauge India VIX rose 9 per cent.
Benchmark Sensex tumbled 1,236 points or 1.5 per cent while Nifty closed near 25,450 on Thursday following an across-the-board sell-off amid escalating geopolitical tensions between the US and Iran.
Halting the three-day gaining streak, the 30-share BSE Sensex tumbled 1,236.11 points, or 1.48 per cent, to settle at 82,498.14.
The 50-share NSE Nifty slumped 365 points, or 1.41 per cent, to close at 25,454.35.
