MUMBAI, Oct 3: The escalation in Israel-Iran conflict in the middle east and profit booking spooked the stock market as the BSE Sensex tanked over 1769 points or 2.10 per cent and closed at 82,497, wiping out over Rs 9 lakh crore of investors wealth on a single day.
The National Stock Exchange (NSE) also lost nearly 546 points or 2.12 per cent to close at 25,250.10 with shares of 48 out of 50 companies ending in the red with two exceptions of JSW Steel and ONGC registering marginal gains over yesterday’s close.
According to sources in, an estimated over Rs 9 lakh crore of investors’ wealth was wiped out, according to initial estimates.
All the sectoral indices ended in the red with realty down 4.5 per cent, and auto, bank and Oil and Gas index down 2 to 3 per cent. Other reasons for the massive crash is profit booking at higher levels achieved in the last few trading sessions.
The Foreign Institutional Investors (FIIs) had sold equities in the cash segment worth Rs 5579 crore while the Domestic Institutional Investors (DIIs) had bought to the tune of Rs 4610 crore in the last trading session on Tuesday, according to data available.
These tensions in the Middle East have triggered fluctuations in oil prices, affecting investor confidence worldwide. Concerns surrounding potential disruptions in crude oil supply chains are causing heightened volatility in energy markets, adding to the overall market dread.
The Mid-cap and the Small-cap also fell by 2.27 per cent and 1.84 per cent respectively. In the 30-scrips BSE Sensex, shares of 29 companies declined and ended in red over their previous closing price, while only exception was JSW Steel registering a marginal gain.
The losers were L& T by 3.95 per cent to Rs 3507.10, Reliance Industries by 3.93 per cent to Rs 2814.80, Axis Bank by 3.87 per cent to Rs 1178.50, and Asian Paints by 3.77 per cent to Rs 3153.65.
The gainers were JSW Steel by 1.13 per cent to Rs 1039.35 and ONGC with nominal gain. (UNI)
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