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.”

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