• Source:JND
Add as a preferred

Stock Market Crash Today: The domestic equity indices settled sharply lower on broad-based selling as investors went into panic due to concerns around oil and gas supply amid the ongoing war in the Middle East. BSE Sensex closed 13,42.27 points or 1.72 per cent lower at 76,863.71, while Nifty50 closed at 23,866.85, down 394.75 points or 1.63 per cent.

The key equity indices opened flat on a cautious note but gradually slipped into a broad-based selling, declining over 1.5 per cent. Erasing the optimism seen in the previous session, investors showed caution on continues unfolding development in West Asia.

Except for NTPC and Sun Pharma, all others stock from the 30-share Sensex basket settled in negative territory with Bajaj Finance, Axis Bank, Bajaj FinServ, Mahindra And Mahindra, Maruti Suzuki, Bharti Airtel, Trent, Kotak Bank, Asian Paint, BEL, SBI, Titan, and TCs being the top losers. Among sectoral front auto, banking, and realty stocks bled amid growing worries over demand slowdown. In contrast, healthcare stocks attracted defensive interest, while gas distributors gained after the government prioritised gas allocation. 

"Domestic equities ended lower as weak global cues and the ongoing US–Iran conflict kept risk-off sentiment elevated. Concerns over rising inflation stemming from potential energy supply disruptions and rationing prompted investors to book profits, while continued FII outflows further added to market pressure," said Vinod Nair, Head of Research, Geojit Investments Limited.
 

Key factors Drag Stock Market Today

No Hopes For De-escalation In The Middle East

According to experts, early hopes of a near-term de-escalation in the Middle East faded quickly after reports of intensified military activity and concerns over the closure of the Strait of Hormuz resurfaced. T

"These developments triggered renewed volatility across global markets and pushed investors toward a defensive risk-off stance," said Ponmudi R, CEO of Enrich Money.

Energy Crisis

Energy markets remain the key focal point for global investors. Oil prices are currently stabilising in the $83–$90 per barrel range after a Wall Street Journal report indicated that the International Energy Agency may consider one of the largest strategic oil reserve releases in history to stabilise supply.

"However, the potential disruption of shipping through the Strait of Hormuz — a vital corridor responsible for nearly one-fifth of global fossil fuel trade — continues to pose a significant systemic risk to energy markets. Reflecting these supply-side concerns, crude oil prices rose around 8 per cent while natural gas prices gained nearly 4% in the domestic markets," Ponmudi said.

Also Read: US-Iran-Israel War Impact: IOC, BPCL, HPCL Could See Margin Pressure Amid Oil Price Spike, Says S&P

Rupee Adds Pressure

The Indian currency remains elevated in the 91.5–92.3 range against the US Dollar, adding pressure on India’s imported inflation outlook and external balance.

"Rupee traded weaker, slipping 0.13% below the 92.00 mark, as the dollar index hovered near 99 and volatile crude prices kept pressure on the currency. Oil movements remain a key driver for the rupee, with crude on the domestic exchange rising nearly 7% today, which tends to widen India’s import bill and weigh on the currency," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.


Also In News