Earthquake in stock market due to increase in crude oil prices, biggest fall in one day after June 2024

Mumbai19 March. There was a stir in the domestic stock market on Thursday due to the sharp rise in the price of crude oil due to the West Asia crisis and the weak trend at the global level. In this sequence, not only was the good momentum going on for the last three trading sessions put to a halt, but both the benchmark indices were forced to witness the biggest one-day decline since June 2024.

While the BSE Sensex fell by 2,497 points and settled near 74,200, the NSE Nifty fell by 775 points to 23,000. Earlier, in the last three trading sessions, the Sensex had gained 2,140 points while the Nifty had gained 626 points.

It is noteworthy that after the attacks on oil and gas plants in West Asia, there was a surge in the prices of crude oil and this has badly affected the sentiment of investors. The price of crude oil has risen above US $ 111 per barrel as fears of continued supply disruptions increase amid rising tensions in West Asia.

Sensex closed at 74,207.24 with a fall of 2,496.89 points

Bombay Stock Exchange (BSE)’s benchmark index Sensex, based on 30 shares, closed at 74,207.24 points with a plunge of 2,496.89 points or 3.26 per cent. During trading, it slipped 2,753.18 points to 73,950.95. There was a big fall in the stocks of all 30 Sensex related companies.

nifty 775.65 points i.e. 3.26% closed at 23,002.15

On the other hand, the 50-share sensitive index Nifty of National Stock Exchange (NSE) also fell by 775.65 points or 3.26 percent and closed at 23,002.15 points. Among the Nifty related companies, only ONGC’s share was in profit and the remaining 49 showed weakness. The broader market was also badly affected. In this sequence, BSE Midcap Select index representing medium companies declined by 3.34 percent and Smallcap index of small companies declined by 2.77 percent.

investors in a single session Loss of Rs 12.87 lakh crore

Due to the huge fall in the stock market, investors lost Rs 12.87 lakh crore in a single session. In fact, the market capitalization of BSE listed companies declined by Rs 12,87,273.89 crore to Rs 4,26,13,557.95 crore ($4,610 billion) in a single day. If seen, since the West Asia crisis started on February 28, investors have suffered a loss of more than Rs 37 lakh crore.

Eternal’s shares fell the most by 5.65 percent

Among the companies included in the Sensex group, Eternal’s shares fell the most by 5.65 percent. Stocks of Bajaj Finance, Mahindra & Mahindra, HDFC Bank, Larsen & Toubro and Bajaj Finserv were also major losers. Among these, after the resignation of HDFC Bank Chairman Atanu Chakraborty, the bank’s shares fell by 5.13 percent.

price of brent crude rose 6.75% to $ 114.8 per barrel

The price of global oil benchmark Brent crude rose 6.75 percent to $ 114.8 per barrel. The increase came after Iran attacked a vital natural gas plant in Qatar and two oil refineries in Kuwait.

FII has Sold shares worth Rs 2,714.35 crore

According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 2,714.35 crore on Wednesday. However, domestic institutional investors (DIIs) bought shares worth Rs 3,253.03 crore.