The Indian stock market has lost nearly Rs. 19 lakh crore as rising oil prices and tensions in the Middle East have dropped investor confidence. The Sensex dropped below 75,000 points, while the Nifty 50 also fell to 23,200 points. On Friday, the Sensex lost more than 1,400 points in one day, wiping out almost Rs. 9.8 lakh crore in a single session.
The stocks of large companies like Larsen & Toubro, Tata Steel, SBI, Bharat Electronics, and Maruti Suzuki fell. Only a few companies, like Hindustan Unilever and Bharti Airtel, managed to make small gains.
The main reason for the drop was a rise in Brent crude prices. Oil prices went over $100 per barrel as the Strait of Hormuz stayed closed. This is an important route where one-fifth of the world’s oil passes through. Conflicts in the Middle East, involving the US, Israel, and Iran, have created pressure on the oil supply chain.
Foreign investors also sold many shares in the Indian market, adding to the losses. The Indian rupee fell to a record low against the US dollar. Rising oil prices and a weak rupee made investors nervous.
Markets around the world also experienced the impact. The S&P 500, NASDAQ, and Dow Jones in the US dropped. Asian markets like Japan, South Korea, and Hong Kong also crashed.
According to experts, markets may take time to recover. Investors can expect it to stay unstable until oil prices calm down and tensions in the Middle East ease. Sectors like energy, auto, and metals were hit the hardest, while stocks in pharmaceuticals and FMCG showed strength.
This week, Indian markets were greatly affected by global events. Rising oil prices hurt company profits, investor confidence, and the value of the rupee against the dollar. Investors are closely watching the situation to minimize their losses.