- Indian equity markets fell sharply with BSE Sensex down 707.72 points to 72,064 intraday low
- NSE Nifty50 declined 0.92% to an intraday low of 22,569.65 amid rising oil prices and US-Iran tensions
- Market capitalization dropped by nearly Rs 5.9 lakh crore to Rs 4,69,53,969.87 crore on BSE
Stock Market Crash Today: Indian equity markets remained under pressure on Tuesday, with the BSE Sensex tumbling 707.72 points, or 0.97%, to hit an intraday low of 72,064. The NSE Nifty50 also declined 0.92% to an intraday low of 22,569.65.
The sell-off wiped out nearly Rs 5.9 lakh crore of investor wealth, with the total market capitalisation of BSE-listed companies falling to Rs 4,69,53,969.87 crore from Rs 4,75,43,563.07 crore on Monday.
The sharp decline came amid elevated oil prices and rising US Treasury yields, while uncertainty surrounding the US-Iran conflict continued to weigh on investor sentiment.
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BSE Top Losers
On the BSE, barring Sun Pharma and IndiGo, all stocks in the 30-share Sensex index were trading in the red.
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NSE Top Losers
On the NSE, 45 of the 50 stocks in the Nifty50 index were declining, while five were trading higher.
Broader Markets
Broader markets, too, remained under pressure, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices down more than 1% each.
The Nifty 100 was down 0.89%, while the Nifty 200 and Nifty 500 declined 0.92% and 0.94%, respectively.
The Nifty Midcap 150 was also down around 1% and slipped below its 3-month low.
Sectoral Indices
Barring the Nifty Pharma and Nifty Healthcare indices, all sectoral indices were trading in the red. Banks and financials led the losses, followed closely by auto, oil and gas, with all these indices declining more than 1%.
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India VIX
India VIX, a gauge of market volatility, jumped 6.37%. Notably, the volatility index has surged more than 42% over the past four trading sessions.
Advance-Decline Ratio
Market breadth remained weak on the NSE. Of the 3,305 stocks traded, 763 advanced, while 2,448 declined and 94 remained unchanged.
On the BSE, 1,160 stocks advanced, while 2,667 declined and 214 remained unchanged, out of 4,041 stocks traded.
The session also saw 191 stocks hitting their 52-week lows on the NSE, while 46 touched 52-week highs. Meanwhile, 78 stocks hit upper circuits and 87 stocks hit lower circuits.
On the BSE, 90 stocks hit their 52-week highs, while 182 touched 52-week lows. As many as 122 stocks hit upper circuits, while 174 stocks hit lower circuits.
Oil Price Continue To Rise
Oil prices extended gains for a second session, with Brent crude holding above $106 a barrel and West Texas Intermediate approaching $94, as uncertainty around US-Iran negotiations outweighed the partial restoration of flows through Saudi Arabia's key East-West pipeline.
The market is weighing two competing forces — the prospect of more supply returning through Saudi Arabia and continued uncertainty around the Strait of Hormuz.
Treasury Yields
US Treasury yields continued their rally amid concerns over interest-rate hikes. The benchmark 10-year Treasury note yield ended above 5.2%, near levels not seen since 2007. The 30-year yield topped 5.56%, trading around a level last seen in 2004.
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