Market Wealth Erodes By ₹6.31 Lakh Crore, Sensex Crashes 719 Points As Oil Nears $100 And Global Markets Tumble

Mumbai: Indian stock markets witnessed heavy selling pressure on Monday, leading to a sharp decline in investor wealth.

The total market capitalisation of BSE-listed companies fell by Rs 6.31 lakh crore in a single trading session. It dropped to Rs 455.29 lakh crore from the previous session, reflecting widespread weakness across sectors.

Sensex And Nifty End Deep In Red

The benchmark Sensex fell 719.08 points, or 0.97 percent, to close at 73,524.26.

During the day, the index had slipped as much as 924 points before recovering some losses near the close.

The Nifty 50 also declined sharply, losing 243.70 points, or 1.04 percent, to settle at 23,123.

The fall marked the second consecutive day of losses for Indian equities.

Rising Oil Prices Add To Market Worries

One of the biggest reasons behind the sell-off was the sharp jump in crude oil prices.

Brent crude rose above $96 per barrel after fresh tensions emerged between Iran and Israel. Investors fear that any further escalation in West Asia could disrupt oil supplies and increase inflation risks globally.

Higher oil prices are generally seen as negative for India because the country imports a large portion of its energy needs.

Global Market Weakness Hits Sentiment

Global markets also witnessed significant selling pressure.

Asian markets ended sharply lower, with South Korea’s Kospi plunging more than 8 percent, while Japan’s Nikkei fell nearly 4 percent.

The weakness followed a steep decline on Wall Street last Friday, where technology stocks came under pressure amid concerns over stretched valuations and the sustainability of the AI-driven rally.

Realty, Metal And Auto Stocks Fall

Selling was visible across most sectors.

Realty stocks fell 2.57 percent, metal stocks declined 2.43 percent, while telecom, commodities, industrials, capital goods and auto stocks also registered steep losses.

Among Sensex stocks, Eternal, InterGlobe Aviation, Mahindra & Mahindra, Reliance Industries, Tata Consultancy Services and Bajaj Finance were among the biggest losers.

Power Grid, Bharat Electronics, Tech Mahindra and Bharti Airtel managed to end with gains.

Market breadth remained weak, with more than 3,100 stocks declining on the BSE compared to about 1,250 advancing shares.