Iran-Israel conflict: Sensex crashes over 1,000 points in early trade
What's the story
The Indian stock market opened on a negative note today, with the BSE Sensex crashing by over 1,000 points in early trade. The fall was witnessed across all sectors. At 9:15am the Sensex was trading at 80,241.86, down by a massive 1,045.33 points or 1.29%. The index opened sharply lower at 78,543.73 and hit an intraday high of 80,103.15 and low of 78,543.73 during volatile opening trades today morning.
Market impact
Nifty50 declines by over 300 points
The broader Nifty 50 index also witnessed a major fall, declining by 319.20 points or 1.27% to trade at 24,859.45 after opening at 24,659.25 today morning against its previous close of 25,178.65 on Friday. The market breadth was heavily negative, with only four advances against 46 declines on the index during early trades today morning amid broad-based selling across sectors due to US-Israel joint strikes on Iran over the weekend.
Sectoral impact
IT, auto stocks witness major fall
The market downturn today morning was led by major sectors such as Information Technology (IT) and automobiles. Among Sensex constituents, TCS fell 1.57%, HCLTech dropped 1.66%, and Tech Mahindra declined 1.78%. Auto giants Maruti Suzuki and Mahindra & Mahindra were also under pressure with their shares sliding by up to 2.94% in early trades today morning amid broad-based selling across sectors.
Information
Aviation stock IndiGo tumbles by whopping 4.66%
Aviation stock IndiGo tumbled by a whopping 4.66% in early trades today morning. Heavyweight stocks such as Reliance Industries and banking majors HDFC Bank, ICICI Bank, and State Bank of India were also trading in red during early trades.