Stock Market Suffers Another Major Decline: Sensex Plunges 1,342 Points, Investors Lose ?3 Lakh Crore

Amid the ongoing conflict in West Asia, a sharp rise in crude oil prices once again led to a major decline in Indian stock markets on Wednesday, with the BSE Sensex falling 1,342 points and the NSE Nifty slipping below 24,000.

This drop came after a single day of gains. Traders said that, in addition to this, continuous capital outflows by foreign institutional investors and selling pressure in major bank stocks also kept the market in the red.

The 30-share BSE Sensex fell 1,342.27 points, or 1.72 percent, to close at 76,863.71.

During trading, it dropped as much as 1,446.72 points. Of the stocks listed on the BSE, 2,380 declined, while 1,881 advanced, and 153 remained unchanged. The 50-share NSE Nifty fell 394.75 points, or 1.63 percent, to close at 23,866.85.

Ajit Mishra, Senior Vice President (Research) at Religare Broking Ltd., said, “The escalating tensions in West Asia have kept global markets volatile with increased fluctuations, weakening investor confidence.”

He added, “Concerns over potential disruptions in crude oil supply, rising inflation, and its possible impact on economic growth are keeping investors cautious. Additionally, continuous selling by foreign institutional investors and the weak trend in the rupee have further reduced the appetite for risk.”

Investors Lose ?3 Lakh Crore Due to Stock Market DeclineThe heavy fall in the Indian stock market on Wednesday due to the Middle East crisis dealt a major blow to investors' wealth.

The total market capitalization of companies listed on the BSE dropped from around ?447 lakh crore in the previous session to approximately ?442 lakh crore. This means investors suffered a loss of nearly ?3 lakh crore in a single day.

Intraday, the Sensex fell as much as 1,396 points to a low of 76,810.14, while the Nifty 50 dropped around 407 points to 23,854.35. Midcap and smallcap indices also recorded declines of over 1.5 percent.

In global markets, following reports of attacks on ships amid ongoing military actions in the Middle East, oil prices surged again. Brent crude rose nearly 1.8 percent to approach $90 per barrel, after a decline of about 11 percent in the previous session.

Experts say that fluctuations in oil prices and uncertainty related to the war will continue to impact global financial markets for now, as a prolonged conflict could affect the global supply of oil and natural gas.

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