Stock Market Bloodbath: Sensex Down 2500 Pts on Oil Spike
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Investor panic gripped Indian bourses Thursday as Middle East flare-ups drove oil prices skyward, prompting a massive sell-off after three up days. BSE Sensex closed at 74,207.24, down 3.26% or 2,496.89 points. NSE Nifty50 mirrored the slide, dropping 3.26% or 775.65 points to 23,002.15.
Intraday lows were brutal: Sensex from 74,750.92 open to 73,950.95 (-3.6%, 2753 pts). Nifty from 23,197.75 to 22,930.35 (-3.5%, 847 pts).
No respite in broader segments—Midcap -3.19%, Smallcap -2.94%. Sectors universally down: Auto -4.25%, Realty -3.81%, Financials -3.78%, Pvt Banks -3.41%, IT -3.31%, Metals -3.24%, FMCG -2.53%.
Nifty50’s sole gainer ONGC (+1.55%); laggards Shriram Finance (-6.71%), Eternal (-5.38%), HDFC Bank (-5.11%), with Bajaj Finance, M&M, L&T, Tata Motors, IndiGo, Grasim, Trent, Bajaj Auto also hammered.
The rout erased ₹12 lakh crore from BSE market cap, now at ₹426 lakh crore from ₹438 lakh crore. Amid Fed’s steady rates and global turmoil, experts urge caution as oil-driven inflation risks mount.
