Indian stock market plunges into red, wipes out ₹10 lakh crore in biggest fall in 9 months
Mumbai (The Uttam Hindu) : Indian stock markets witnessed heavy selling on Tuesday due to rising global volatility. The Sensex ended the day down 1,065.71 points, or 1.28 percent, at 82,180.47, and the Nifty declined 353.00 points, or 1.38 percent, to 25,232.50.
10 lakh crore wiped out: The total market cap of BSE-listed companies fell by nearly 10 lakh crore in Tuesday's sell-off. Since the beginning of the year, the market cap of BSE companies has fallen by more than 20 lakh crore.
Biggest drop in 9 months: The Nifty 50's decline on Tuesday was the biggest single-day decline in the last 9 months. The previous such significant drop was seen on April 7, 2025, when the Nifty lost 3.2%.
The market decline was led by realty, consumer durables and defense stocks. Among the indices, Nifty Realty closed down by 5.04 percent, Nifty Consumer Durables by 2.80 percent, Nifty India Defence by 2.78 percent, Nifty Auto by 2.48 percent, Nifty Energy by 2.22 percent, Nifty PSE by 2.14 percent and Nifty IT by 2.08 percent.
Almost all the indices in the stock market closed in the red. Selling was seen in largecaps as well as midcaps and smallcaps. Nifty Smallcap 100 index was down 489.65 points or 2.85 percent at 16,701.05 and Nifty Midcap 100 index was down 1,562.30 points or 2.62 percent at 58,085.35. Eternal (Zomato), Bajaj Finance, Power Grid, Axis Bank, Bharti Airtel, BEL, Kotak Mahindra, Trent, Asian Paints, M&M, Bajaj Finserv, Tata Steel and Tech Mahindra were the losers in the Sensex pack. Only HDFC Bank closed in the green.
According to market experts, the main reason for the market decline is the re-emergence of concerns about global trade tariffs. Due to increased tensions between the US and Europe over Greenland, US President Donald Trump has announced tariffs on several major European countries. Furthermore, continued selling by foreign investors has also put pressure on the market. Investor sentiment has also been affected by mixed results reported by companies for the third quarter.
The market started with a decline. At the time of writing, the 30-share BSE Sensex was trading 214 points, or 0.26 percent, lower at 83,032, while the Nifty was down 77 points, or 0.3 percent, at 25,508.