Market Crash: Benchmark indices— Sensex and Nifty—declined by over 2 per cent as investor sentiment turned jittery owing to Israel Iran conflict.
On Thursday, Sensex concluded the day at 82,497.10 level mark, down by 1,769.19 points or 2.10 per cent. The 50-company index followed suit and witnessed a sharp plunge.
NSE Nifty was down by 546.80 points or 2.12 per cent and ended the day at 25,250.10 level mark.
From the Sensex pack, Larsen and Toubro, Reliance Industries, Axis Bank, Asian Paints, Tata Motors, Bajaj Finance, Maruti, Bajaj Finserv, Kotak Mahindra Bank, Titan, Adani Ports and HDFC Bank were the major laggards. On the other hand, JSW Steel was the only gainer.
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"The domestic market took a sharp downturn following Iran’s launch of ballistic missiles at Israel, sparking fears of retaliation and escalation in war,” Vinod Nair, Head of Research, Geojit Financial Services said.
“New SEBI regulations for the F&O segment have raised concerns about reduced trading volumes in the broader market. Lastly, with attractive valuations in China, FIIs have redirected their funds, adding pressure on Indian stocks," Nair added.
Global Markets
In Asian markets, Hong Kong settled lower while Tokyo ended in the positive territory. European markets were trading mostly lower. The US markets ended marginally higher on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,579.35 crore on Tuesday, according to exchange data.
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Oil prices continue to remain volatile as geopolitical tensions continue to escalate. Brent crude prices climbed for the third straight day on Thursday, surpassing $75 per barrel mark due to rising tensions in the Middle East. The benchmark Brent crude was trading at $75.4 per barrel, marking an increase of more than 5 per cent over the last five days.
Meanwhile, US West Texas Intermediate crude futures increased by $1.10, or 1.57 per cent, to $71.20.
(With inputs from PTI)
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