Stock market shock: ₹5 lakh crore wiped out within 5 seconds as Sensex and Nifty tumble
Indian stock market plunges at opening as Sensex and Nifty fall sharply, wiping out nearly ₹5 lakh crore of investors’ wealth within seconds
Mumbai (The Uttam Hindu): The deepening war and rising tensions in West Asia have now started affecting the pockets of Indian investors directly. As soon as trading began in the stock market on Thursday morning, a sudden shockwave rattled the market and left investors stunned. Within just five seconds of the opening bell, nearly ₹5 lakh crore of investors’ wealth was wiped out. Heavy selling pressure caused benchmark indices Sensex and Nifty to collapse sharply, triggering panic across the stock market.
Sensex and Nifty plunge sharply
The Sensex of the Bombay Stock Exchange (BSE) opened at 76,369.65, falling 494.06 points from its previous close of 76,863.71. Within minutes, the decline deepened further, and around 9:15 a.m. the Sensex slipped 915.72 points (1.19%) to reach 75,947.99. Meanwhile, the Nifty of the National Stock Exchange (NSE) also witnessed a weak start. The Nifty opened down by 192 points at 23,674.85 and later dropped 264.85 points to 23,602.00 amid early selling pressure.
Heavy selling in major stocks from Reliance to banking sector
Red marks dominated across the market as shares of major companies fell sharply. Reliance Industries declined by 0.51% to trade at ₹1,383.95. HDFC Bank slipped 0.65%, while Bharti Airtel dropped 0.58%. Leading FMCG and IT stocks such as ITC, Infosys, TCS, and Asian Paints also remained under pressure. The biggest losses were seen in the auto, metal, and banking sectors. Shares of Maruti, SBI, Kotak Bank, and Axis Bank registered declines ranging from 1.5% to 1.74%.
Global market weakness adds to pressure
The sharp fall in the Indian stock market was not only driven by domestic factors or tensions in the Middle East but also by pressure from global markets. Asian markets showed significant weakness. Japan’s Nikkei index fell by more than 848 points (1.54%) to 54,177.15. Similarly, Hong Kong’s Hang Seng and South Korea’s Kospi indices also declined by more than one percent, increasing anxiety among investors worldwide, including in India.