Sensex crashes 2,000 points, Nifty falls 580 points
The stock market saw a rough Thursday, with the Sensex dropping almost 2,000 points and Nifty slipping by 580.
About ₹7 lakh crore was wiped off the market capitalisation of BSE-listed companies within minutes of the market opening.
One of the factors was the resignation of HDFC Bank's part-time chairman and independent director, Atanu Chakraborty, who said certain developments and practices did not align with his personal values and ethics, sending the bank's shares down 8% and sparking a sell-off across all major stocks.
Rupee hits record low
This isn't just about numbers. When markets fall this hard, it hits investments, savings, and even job confidence for everyone.
Market-cap losses reported during recent volatile sessions ranged from roughly ₹7 lakh crore wiped off within minutes to a cumulative decline of about ₹22.4 lakh crore over the period following the US-Iran escalation.
Plus, the rupee hit record lows near 92.63 as rising oil prices made imports pricier and inflation worries grow.
Foreign investors pull out
It's not just local drama. Global factors are piling on: Brent crude oil shot past $110 per barrel due to Middle East tensions like Iranian missile attacks on Ras Laffan, Qatar's core LNG processing facility.
Meanwhile, foreign investors pulled out over ₹56,000 crore in March alone.
Even global markets like the S&P 500 and Nikkei are feeling the heat—so it's a worldwide wave of uncertainty right now.