Market crashed due to Middle East crisis, Sensex fell 2,497 points!

After three consecutive sessions of rise, the Indian stock market closed with a big fall on Thursday. Major benchmarks of the domestic market Nifty50 and Sensex fell by more than 3 per cent due to heavy losses in global markets amid concerns over rising crude oil prices and after the US Federal Reserve kept the policy rates unchanged.

Meanwhile, the 30-share BSE Sensex fell 3.26 per cent or 2496.89 points to close at 74,207.24. NSE Nifty closed at 23,002.15 with a fall of 3.26 percent or 775.65 points.

In intra-day trade, while the Sensex opened at 74,750.92 and fell 2,753 points or 3.6 per cent to touch an intraday low of 73,950.95, the Nifty opened at 23,197.75 and fell 847 points or 3.5 per cent to the day’s low of 22,930.35.

The broader markets also witnessed big losses, as did the benchmark indices. While Nifty Midcap index declined by 3.19 percent, Nifty Smallcap index recorded a decline of 2.94 percent.

During this period, all the sectoral indices were seen trading in the red. Nifty Auto fell the most by 4.25 percent. After this, a decline of 3.81 percent was recorded in Nifty Realty, 3.78 percent in Nifty Financial Services, 3.41 percent in Nifty Private Bank, 3.31 percent in Nifty IT, 3.24 percent in Nifty Metal and 2.53 percent in Nifty FMCG.

On Thursday, except ONGC, which gained 1.55 per cent, all other stocks in Nifty50 declined. Shares of Shriram Finance (6.71 per cent fall), Eternal (5.38 per cent fall) and HDFC Bank (5.11 per cent fall) were the biggest losers. Apart from this, shares of Bajaj Finance, Mahindra & Mahindra, L&T, TMPV, Indigo, Grasim, Trent and Bajaj-Auto also saw a big fall.

Due to this fall in Sensex, the total market capitalization (market cap) of BSE listed companies declined by about Rs 12 lakh crore, due to which it fell from earlier Rs 438 lakh crore to about Rs 426 lakh crore.