Sensex crashes over 1,600 points, Nifty slides below 24,400
The Indian stock market took a sharp hit on Wednesday morning—Sensex dropped over 1,600 points and Nifty slid below 24,400.
Out of 50 Nifty stocks, only six managed to stay in the green as most shares opened lower.
Investors have seen nearly ₹9 lakh crore wiped out
In recent days, investors have seen nearly ₹9 lakh crore wiped out.
Global tensions are at play here: after US-Israel strikes killed Iran's top leader over the weekend, fears of oil supply disruptions have rattled markets.
The rupee also fell to a new low against the dollar, making imports like fuel and travel pricier.
Foreign institutional selling hits local markets
It's a mix of global uncertainty and sector-specific troubles. Oil prices jumped to $82 per barrel as investors worried about possible retaliation from Iran.
Big names like HDFC Bank and L&T saw steep drops amid broad foreign institutional selling in banking and infrastructure—reflecting how global events can quickly shake up local markets.