Stock Market Crash: NSE Sees Rs 17 Lakh Crore Wiped Out In Investor Wealth
The overall market faced significant declines. The Nifty 50 fell over 5% to 21,743.65 and Sensex dropped 5.23% to trade at 71,425.
The Indian stock market experienced a severe crash on Monday with the National Stock Exchange seeing nearly Rs 17 lakh crore wiped out in investor wealth.
The NSE Nifty 50 and BSE Sensex plummeted at market open, mirroring the global market turmoil triggered by US President Donald Trump's recent tariff announcement.
Large-cap stocks bore the brunt of the sell-off, with Reliance Industries Ltd., Tata Consultancy Services, and HDFC Bank wiping out a combined Rs 1.7 lakh crore in investor wealth.
RIL alone saw a market cap loss of around Rs 62,200 crore, while TCS and HDFC Bank lost approximately Rs 54,400 crore and Rs 38,200 crore, respectively.
The overall market faced significant declines. The Nifty 50 fell over 5% to 21,743.65 and Sensex dropped 5.23% to trade at 71,425.
Mid-cap stocks also faced significant declines, with Mazagon Docks losing around Rs 9,000 crore, Lloyds Metals shedding Rs 8,100 crore, and BSE Ltd. dropping Rs 5,700 crore. Among small-cap stocks, Chola Holdings, Wockhardt, and Sarda Energy were the worst performers, losing Rs 2,500 crore, Rs 2,100 crore, and Rs 1,900 crore, respectively.
The worst-performing sectors included Nifty Metal, Nifty IT, and Nifty Defence, which saw significant declines as investors rushed to offload their holdings.
The market crash comes in the wake of Trump's announcement of a 25% tariff on automobiles and parts, alongside the reciprocal tariff on Indian imports.
These measures have sparked concerns over escalating trade tensions and their potential impact on global economic growth. The tariffs are expected to disrupt international supply chains, increase costs for businesses, and dampen consumer demand, leading to widespread market volatility.
The ripple effects of the tariff announcement were felt across global markets, with major indices in the US, Asia Pacific, and EMEA regions also experiencing sharp declines. The Nasdaq Composite, Nikkei 225, and Hang Seng were among the worst performers, reflecting the broad-based impact of the trade tensions.
