Today's Indian stock market witnesses a massive downturn as tensions between Iran and Israel over the weekend have escalated into war-like conditions. The attacks on multiple Israeli locations by Iranian drones and missiles have ramped up global tensions. The market anticipates a challenging period ahead, especially with potential spikes in crude oil prices and inflation, leading to today's heavy losses in the stock market.
After experiencing a 1% fall on Friday, the market opened on Monday with the Sensex and Nifty witnessing significant declines. The Sensex opened over 900 points down at 73,315.16, while the Nifty fell more than 300 points to start at 22,339.05. Out of the top 30 stocks in BSE, only 4 showed an uptick, while the remaining 26 witnessed declines. Tata Motors shares faced the most considerable drop, down by 2.41%.
On the NSE, out of 2,171 traded shares today, only 135 showed gains. A substantial fall was observed in the remaining 1,979 shares. 57 shares remained static. Currently, 33 shares are trading at their 52-week high, while 16 are at their 52-week low. Moreover, 25 shares hit their upper circuit, and 114 shares their lower circuit.
These sectors took the hardest hit
In addition to the Sensex-Nifty, the Nifty Next 50, Midcap, Smallcap, and Financial Services Index also saw significant downturns. The Bank Nifty fell by more than 550 points. The Nifty Next 50 dropped by over 1400 points. Sector-wise, banks, automobiles, financial services, private banks, metals, oil and gas, healthcare, and consumer sectors fell by 1 to 2 percent, with the media sector experiencing the steepest decline of 3.21 percent.
Today's biggest stock losers
Railway stocks like IRFC fell close to 6 percent, Geo Finance Services by 5 percent, Adani Green Solutions by 4 percent, Adani Total Gas by 4 percent, and DLF by 4 percent. Additionally, SJVN shares plummeted by 6 percent, Tata Chemicals by 5 percent, and shares of NBCC India by 6.5 percent.
Shares that bucked the trend
Despite the massive sell-off, some stocks still managed to climb. Exide Industries surged by more than 4 percent. Furthermore, Prestige shares went up by 1 percent, VI by 1.54 percent, ONGC by 2.47 percent, Hindalco by 2 percent, and TCS shares showed an upward trend.
