Thursday’s trade in Indian bourses was dominated by fear, as West Asia flare-ups drove oil prices into a tailspin, culminating in a 829-point or 1.08% drop for the BSE Sensex to 76,034.42. NSE’s Nifty 50 closed 0.95% lower at 23,639.15, down 227.70 points, extending the week’s losing streak.
Intraday swings were dramatic: Sensex sank to 75,871.18, a 992.53-point or 1.3% plunge, while Nifty touched 23,556.30 amid a 298.15-point fall. A modest rebound trimmed losses, with Sensex peaking at 76,681.71 after gaining back roughly 600 points.
The malaise spread across segments, Nifty Midcap 100 slipping 0.37% and Smallcap 100 0.67%. Nifty Auto led decliners with a steep 3.19% loss, trailed by FMCG (1.77%), Realty (1.63%), Bank (1.14%), and IT (0.24%). Nifty Oil & Gas, however, bucked the trend with gains.
Among Nifty constituents, Mahindra & Mahindra, Eicher Motors, Maruti Suzuki, Bajaj Finance, TVS Motor, L&T, and UltraTech Cement suffered the sharpest falls. Bright spots included Coal India, NTPC, Power Grid, Tech Mahindra, Jio Finance, Adani Enterprises, and Jio Financial Services as top gainers.
BSE’s aggregate market cap took a 2 lakh crore rupee hit, falling to 440 lakh crore from 442 lakh crore. This bloodbath highlights the market’s vulnerability to international flashpoints, particularly those disrupting energy flows. Analysts warn of heightened volatility ahead unless tensions ease.