Sensex Falls 1,690 Points To 73,583 Nifty Drops 486 Points to 22,819 As ₹8 Lakh Crore Wealth Wiped Out
Indian markets fell sharply with Sensex down 1,690 points and Nifty dropping 486 points, wiping out Rs 8 lakh crore investor wealth. Weak global cues, US-Iran tensions, and rising oil prices hurt sentiment. While most sectors declined, IT stocks showed resilience, and gold and silver prices moved higher.
Indian markets fell sharply with Sensex down 1,690 points and Nifty dropping 486 points, wiping out Rs 8 lakh crore investor wealth. |
Mumbai: Indian stock markets saw a big fall on Friday, March 27. Both benchmark indices ended deep in the red.
Sensex dropped 1,690 points to 73,583 while Nifty 50 fell 486 points to 22,819. The fall was nearly 2 percent for both indices, showing strong selling pressure across the market.
Investor Wealth Takes a Hit
The market decline led to a major loss for investors. The total market value of BSE-listed companies fell from Rs 431 lakh crore to Rs 423 lakh crore.
This means investors lost around Rs 8 lakh crore in just one trading session.
Global Tensions Weigh on Markets
The main reason behind the fall is weak global cues. Rising tensions between the US and Iran have created uncertainty.
Even though there was some hope after the US delayed its action deadline, fears of a prolonged conflict continue to worry investors.
Sector-Wise Performance
Most stocks were trading lower during the session. Banking, financial, and auto stocks led the decline.
However, IT stocks showed some strength and remained in the green, providing limited support to the market.
Asian Markets Show Mixed Trend
Asian markets also remained under pressure. Japan’s Nikkei and South Korea’s Kospi fell slightly.
On the other hand, Hong Kong’s Hang Seng and China’s Shanghai Composite ended higher. Australia and Taiwan markets also saw mild declines.
Oil Prices and Global Cues
Oil prices remained volatile due to the ongoing conflict. Brent crude was around USD 106 per barrel after a slight drop.
Higher oil prices increase inflation concerns and put pressure on global markets.
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Gold and Silver Rise
Gold and silver prices moved higher on Friday morning. Gold futures rose nearly 1 percent to Rs 1,43,829 per 10 grams on MCX.
Silver prices also increased by almost 2 percent to Rs 2,23,978 per kg. A weaker dollar supported the rise in precious metals.
Overall Market Outlook
Markets are currently driven by global uncertainty and geopolitical risks.
Until there is clarity on the US-Iran situation, markets may remain volatile with frequent ups and downs.
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