Sensex Crashes Close To 1,700 Points
Indian equity markets recorded their biggest one-day fall in three months on Wednesday as renewed US-Iran tensions, rising crude oil prices and weak global cues triggered heavy selling across sectors. The sharp fall wiped out about ₹10 lakh crore in investor wealth.
Sensex Falls 1,700 Points
The Sensex plunged 1,677.12 points, or 2.15%, to close at 76,503.60. During intraday trade, the index fell as much as 1,921.69 points to 76,259.03.
The Nifty declined 516.65 points, or 2.12%, to end at 23,882.05. Broader markets also came under pressure, with the Nifty Smallcap 100 and Nifty Midcap 100 indices falling 1.97% and 1.57%, respectively.
US Iran Tensions Hit Markets
Market sentiment weakened after US President Donald Trump said the tentative ceasefire understanding with Iran was over, following renewed military tensions in the Gulf region.
The escalation pushed Brent crude higher, raising concerns for India, which depends heavily on imported oil. Higher crude prices can widen the import bill, add inflation pressure and hurt sectors such as aviation, paints, tyres, FMCG and oil marketing companies.
Crude Oil, Rupee Add Pressure
Brent crude rose over 5% to around $78 per barrel, while the rupee weakened by 20 paise against the US dollar.
India VIX, the market volatility gauge, jumped nearly 30% to 15.08, reflecting heightened investor nervousness.
All Nifty sectoral indices ended in the red. Oil marketing companies, auto, FMCG and aviation-related stocks faced pressure, while some oil producers gained as crude prices climbed.
