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When the stock market opened this morning, no one expected such a big shock. Within just five minutes, a massive earthquake occurred in Dalal Street, which wiped out Rs 8 lakh crore of investors’ hard-earned money. Due to the sudden increase in geopolitical tension between Iran and America, the prices of crude oil have started skyrocketing. Brent crude has crossed the dangerous level of $112 per barrel. This global panic had a direct impact on the Indian stock market today, where both Sensex and Nifty collapsed like a house of cards.

Domestic market scorched by global turmoil

Whenever there is any major upheaval in any corner of the world, it has a direct impact on our economy and stock market. The increasing tension between Iran and America is sending shockwaves in markets around the world. This unprecedented surge in crude oil prices has shaken global investors, resulting in massive selling. The heat of this global sell-off has badly scorched our domestic market today. On the day of weekly expiry of Sensex, all the sectors of Nifty fell drastically.

Sensex fell 1,800 points

A look at the decline figures clearly shows the seriousness of the situation. There was a huge fall of about 1,800 points (2.35%) in BSE Sensex. It fell to the level of 74,869. At the same time, Nifty 50 is also struggling to remain at the level of 23,238 with a fall of 532 points (2.23%).

This fall is even more painful because just a day before on Wednesday there was a tremendous rise in the market. At that time the Sensex closed at 76,704 with a gain of 633 points, while the Nifty closed at 23,777 with a gain of 196 points. All the enthusiasm of yesterday has completely vanished today.

Fear of selling dominates the market

Along with large-cap stocks, there is a tremendous wave of selling going on in the mid-cap and small-cap segments also. All the 30 leading stocks included in Sensex are trading in the red. The banking and infrastructure sector has suffered the most, in which shares of strong companies like HDFC Bank, Axis Bank and Larsen & Toubro (L&T) have fallen sharply.

Out of 2,006 shares being traded today, a huge decline was seen in 1,390 shares. Amidst this pressure, only 469 shares managed to maintain their gains, while the prices of 147 shares remained unchanged. Apart from this, where 12 stocks touched their one-year high. Whereas 40 shares fell to their lowest level in one year.