Israel-Iran war shatters stock market... Sensex drops 2743 points, Nifty also crashes
Today stock market witnessed a significant decline. The Iran-Israel war has led to a sharp decline in the stock market, while crude oil prices are also seeing a surge.
The Indian stock market is witnessing a sharp decline due to the war between Iran, Israel, and the United States. The Sensex opened at 78,543, down 2,743 points, or 3.38%, while the Nifty fell 519 points, or 2.06%, to 24,659. The Bank Nifty fell by more than 1,300 points.
However, the stock market appeared to recover shortly after. The Sensex fell 1,000 points, or 1.21%, to trade at 80,282, and the Nifty fell 300 points, to below 24,900.
In addition, crude oil prices have fallen by more than 10%. X3parts says that if the war continues, the decline could be more severe. Crude oil prices could reach $100 per barrel.
Twenty-nine of the BSE's top 30 stocks fell sharply, with only BEL gaining 1 percent. Indigo shares fell nearly 5 percent, L&T nearly 4 percent, Adani Ports 3 percent, and Eternal 2 percent.
₹6 lakh crore lost
Investors suffered significant losses today due to the sharp decline in the stock market. The BSE market cap saw a significant decline. The BSE market cap, which stood at ₹463.50 lakh crore on Friday, fell to around ₹457.50 lakh crore on Monday. This represents a loss of ₹6 lakh crore in investor value.
