New Delhi: Investor wealth took a sharp hit on Thursday as Indian equity markets tumbled amid rising global tensions, wiping out Rs 12.87 lakh crore in a single session. The sell-off followed a surge in crude oil prices linked to escalating attacks on energy infrastructure in West Asia, deepening concerns over global supply disruptions.
The 30-share BSE Sensex snapped its three-day gaining streak, plunging 2,496.89 points or 3.26 per cent to close at 74,207.24, its lowest level since April 7, 2025. During intra-day trade, the index had fallen as much as 2,753.18 points or 3.58 per cent to 73,950.95, marking its steepest one-day decline since June 2024.
The broader market rout dragged the total market capitalisation of BSE-listed firms down by Rs 12,87,273.89 crore to Rs 4,26,13,557.95 crore, equivalent to USD 4.61 trillion.
Since the onset of the West Asia crisis on February 28, investors have seen wealth erosion exceeding Rs 37 lakh crore.
Market participants attributed the downturn to heightened geopolitical risks. “Indian equity markets witnessed a sharp reversal today, breaking their three-day recovery rally,” said Ponmudi R, CEO of Enrich Money. He noted that renewed strikes involving Israel and Iran targeting key oil and LNG facilities have intensified fears of supply disruptions.
Brent crude prices jumped 6.21 per cent to USD 114 per barrel, adding to market anxiety. Ajit Mishra of Religare Broking said the spike in oil prices, alongside a hawkish US Federal Reserve stance and persistent foreign institutional investor outflows, further pressured sentiment.
Heavyweight stocks including Eternal, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, Larsen & Toubro and InterGlobe Aviation led the decline. HDFC Bank dropped 5.13 per cent after chairman Atanu Chakraborty resigned citing ethical concerns.
Broader indices also fell, with the BSE MidCap Select down 3.34 per cent and SmallCap Select losing 2.77 per cent. All sectoral indices ended in the red, led by auto, realty and financial services.
On the BSE, 3,192 stocks declined, while 1,051 advanced and 161 remained unchanged.