Sensex, Nifty Plunge Amid Israel-Iran Tensions; Investor Wealth Down Rs 4.18 Lakh Crore"

The benchmark indices experienced a sharp decline in early trading on Friday, influenced by reports of an Israeli attack on Iran. The Sensex plummeted by 608 points to 71,880, while the Nifty fell by 173 points to 21,822. This downturn reflects a dampening of investor sentiment on Dalal Street, driven by the ongoing Iran-Israel conflict, profit-taking activities, and rising U.S. bond yields. The market has been on a downward trajectory for five consecutive sessions.

On the financial front, investor wealth decreased by Rs 4.18 lakh crore, settling at Rs 389 lakh crore compared to Rs 393.38 lakh crore in the previous session on April 18. Major Sensex contributors to the loss included prominent companies like Infosys, Axis Bank, TCS, L&T, Nestle India, and Wipro, with all 30 Sensex stocks ending the day lower.

In terms of stock performance, the Bombay Stock Exchange (BSE) saw 11 stocks touch their 52-week lows while 55 stocks achieved new 52-week highs.

The overall market breadth was negative, with only 562 of the 2384 stocks showing gains. A total of 1718 stocks declined, and 104 remained unchanged.