Stock Market Crash Today: Investors witnessed a massive erosion in wealth within minutes of Thursday’s opening bell. At Wednesday’s close, the total market capitalisation of BSE Sensex companies stood at Rs 4,22,01,433.48 crore. By 10:03 am on Thursday, this fell to Rs 4,11,94,176 crore. That is a loss of Rs 10 lakh crore in less than an hour.
Both BSE Sensex and Nifty 50 opened sharply lower after US President Donald Trump’s latest Iran threat led to a rise in oil prices. FOLLOW LIVE UPDATES
- Sensex fell over 1,400 points in early trade
- Nifty slipped nearly 2% and fell below 22,300
- All 16 major sectoral indices were in the red
Heavy Selling Across Sectors
- Financials and banks dropped around 1.6%
- Mid-caps fell 1.2%, small-caps down 1.5%
- Industrial and infra stocks saw sharp cuts
- Pharma and aviation stocks faced heavy pressure
Key losers included:
- State Bank of India down over 3%
- HDFC Bank, ICICI Bank, Axis Bank fell 1.5-2.5%
- Larsen & Toubro down more than 3%
- Adani Ports and Special Economic Zone and Adani Enterprises fell over 3%
- InterGlobe Aviation dropped more than 4%
- Sun Pharmaceutical Industries fell nearly 5%
IT stocks showed some resistance:
- HCL Technologies saw marginal gains
- Infosys and Tata Consultancy Services fell less than the broader market
Why Are Markets Falling Today?
1. Trump’s warning and oil spike: US President Donald Trump said the US will hit Iran “extremely hard” in the next two to three weeks. He did not give clarity on when the conflict would end. This pushed Brent crude up nearly 5 per cent to around $105 per barrel. Industrial metals like copper also fell.
2. Foreign investors continue to sell: Foreign portfolio investors sold shares worth Rs 8,331 crore on April 1. Domestic institutions bought Rs 7,172 crore, but that was not enough to absorb the selling. Sustained FPI selling, high crude prices, and pressure on the rupee are weighing on markets.
3. Technical weakness on charts: Anand James of Geojit said Nifty failed to hold above 22,770 after Wednesday’s gap-up opening.
- Immediate support seen near 21,900.
- Some buying interest may emerge near 22,330
- Market needs to trade above 22,630 to regain strength
4. Volatility jumps: India VIX rose 5 per cent on Thursday after falling 10 per cent a day earlier. This shows traders expect more short-term swings and selling pressure.
5. Bank stocks under pressure after RBI move: Bank stocks fell after the Reserve Bank of India tightened rules to curb speculative activity in the rupee market. The move requires banks to close certain contracts in the open market. Analysts say this could lead to higher losses for lenders. The Nifty Bank index fell 2.6 per cent, sharper than the broader market.
