Equities ended Thursday deep red in India amid Middle East conflict.
The Sensex declined 1,769 points, or 2.10 per cent, to 82,497 at close, and Nifty had declined 546 points, or 2.12 per cent, to 25,250.
During the trading session, the market trend was negative. The shares declined at 2,864 counts, at 1,120 counts the share increased, and 92 shares closed without any change.
Consequent upon the steeple fall, the market valuation of all those companies listed on the Bombay Stock Exchange (BSE) dropped by as much as Rs 10 lakh crore to Rs 465 lakh crore.
Selling was seen in the mid-cap and small-cap stocks also. Nifty midcap 100 index shed 1,333 points or 2.21 per cent at 59,024. Similarly, Nifty smallcap declined by 378 points or 1.96 per cent at 18,952.
Almost all NSE indices have ended in the red. Auto, Fin Service, IT, FMCG, Realty, Energy, Private Bank, and Infra indices suffered the most. In the Sensex pack, the major losers were L&T, Axis Bank, Tata Motors, Reliance, Maruti Suzuki, Asian Paints, Bajaj Finance, Wipro, Kotak Mahindra Bank, Bajaj Finserv, Titan, HDFC Bank, HCL Tech, and Power Grid.
Only JSW Steel has closed in the green.
According to market experts, the domestic market slid sharply down following the launch of ballistic missiles from Iran at Israel, which set in the apprehension of retaliatory measures spiralling into a war. It may end up pushing up oil prices and inflationary pressure, they said. In addition to this, new SEBI regulations for the F&O segment has raised concerns over lesser trading volumes in the broader market. Lastly, with attractive valuations in China, FIIs have redirected their funds, adding pressure on Indian stocks, they added.
The foreign institutional investors (FIIs) extended their selling as they sold equities worth Rs 5,579 crore on October 1, while domestic institutional investors extended their buying as they bought equities worth Rs 4,609 crore on the same day.
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