Indian Sensex drops over 740 points to 74,160 as crude oil costs market capitalization Rs 5 lakh crore
India's benchmark indices fell sharply on Friday due to escalating geopolitical tension and rising bond yields. Market capitalization wiped out by more than 5 lakh crore with tech stocks bucking the decline.
The Indian stock market fell sharply on Friday, driven by soaring crude oil prices and surging bond yields. The S&P BSE Sensex dropped over 740 points to reach 74,160, while the Nifty 50 index declined 264 points to land at 23,231. These losses erased more than Rs 5 lakh crore from the total market capitalization of companies listed on BSE during the session. Broadly, sectoral performance varied; M&M, Bajaj Finance, and IndiGo shares fell around 2%, whereas Tech Mahindra and Infosys shares gained up to 1%. Other sectors such as Nifty Realty and Nifty Metal crashed more than 3% lower. The India VIX measure of market volatility jumped more than 6% to exceed 12.5, reflecting heightened uncertainty. Overall market breadth remained sharply negative, with the National Stock Exchange recording 2,389 declines against just 511 advances. Eighty-eight stocks remained unchanged throughout the trading hour.
