Equity investors saw their wealth shrink by ₹12.87 lakh crore on Thursday as stock markets plunged sharply, with the benchmark BSE Sensex falling more than 3 per cent. The decline was driven largely by a surge in crude oil prices due to increasing attacks on energy infrastructure in West Asia. Since the crisis in the region began on February 28, investors have collectively lost over ₹37 lakh crore.
Breaking a three-day winning streak, the 30-share Sensex dropped 2,496.89 points, or 3.26 per cent—its steepest single-day fall since June 2024—to close at 74,207.24, its lowest level since April 7, 2025. During intraday trade, it had plunged as much as 2,753.18 points, or 3.58 per cent, to 73,950.95.
Also read: HDFC Bank chairman Atanu Chakraborty resigns
The total market capitalisation of companies listed on the Bombay Stock Exchange tumbled by ₹12,87,273.89 crore in a single session, bringing the overall valuation down to ₹4,26,13,557.95 crore (USD 4.61 trillion).
“Indian equity markets witnessed a sharp reversal on Thursday, ending a three-day recovery rally and closing significantly lower, with benchmark indices declining by nearly 3.3 per cent,” said Ponmudi R. He attributed the sell-off to renewed geopolitical tensions in the Middle East, where fresh strikes between Israel and Iran on key oil and LNG infrastructure have revived fears of global supply disruptions.
Global oil benchmark Brent crude surged 6.21 per cent to USD 114 per barrel, intensifying concerns in the market. “The spike in crude prices, combined with fears of supply disruptions, has worsened sentiment. Additionally, a hawkish stance from the US Federal Reserve and continued foreign institutional investor outflows have added pressure,” said Ajit Mishra.
Among the 30 Sensex stocks, major losers included Bajaj Finance, Mahindra & Mahindra, HDFC Bank, Larsen & Toubro and InterGlobe Aviation.
Shares of HDFC Bank fell 5.13 per cent after its chairman, Atanu Chakraborty, resigned citing ethical concerns.
Broader markets also remained under pressure, with the BSE MidCap Select index declining 3.34 per cent and the SmallCap Select index falling 2.77 per cent.
All sectoral indices ended in the red. The auto index dropped 4.07 per cent, followed by realty (3.79 per cent), financial services (3.66 per cent), consumer discretionary (3.62 per cent), BSE Top 10 Banks (3.53 per cent), industrials (3.49 per cent), services (3.44 per cent), BSE Focused IT (3.41 per cent), and consumer durables (3.38 per cent).
Market breadth was decisively negative, with 3,192 stocks declining, 1,051 advancing and 161 remaining unchanged on the BSE.
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