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The Indian stock market experienced a significant crash on Wednesday, driven by escalating tensions between Iran and Israel and the Securities and Exchange Board of India's (SEBI) tightening of regulations for futures and options (F&O) trading to curb speculative activities. The Sensex, a benchmark index of the Bombay Stock Exchange (BSE), plummeted by 1,832 points, settling at 82,434, while the Nifty 50, the National Stock Exchange of India (NSE) index, tumbled by 565 points, closing at 25,231.90 in the afternoon session.
The market crash resulted in a staggering loss of Rs 10.56 lakh crore for investors, as the BSE market capitalization dropped to Rs 464.30 lakh crore from Rs 474.86 lakh crore in the previous session. Out of the 30 stocks that comprise the Sensex, a staggering 28 witnessed a decline in their value. The only exceptions were Tata Steel and JSW Steel, which registered gains of up to 1.5% on the day.
Further analysis of the market data revealed that 221 stocks achieved their 52-week highs during the day, while 65 shares plummeted to their 52-week lows on the BSE. The market breadth was characterized by negativity, with 956 stocks trading in the green and 2964 stocks trading in the red, out of a total of 4017 stocks traded. A total of 97 stocks remained unchanged.
The BSE capital goods index experienced the most significant decline, plummeting by 2328 points to 70,749. Consumer durables, banking, and auto indices also witnessed substantial drops, falling by 1480 points, 1434 points, and 1803 points, respectively, on the BSE. All 19 sectoral indices on the BSE traded in the red.
The article then delves into the top losers in the afternoon session, highlighting Maruti Suzuki, Asian Paints, Larsen & Toubro, Axis Bank, and Reliance Industries. Maruti Suzuki's shares declined by 4.26% to Rs 12,605, while Asian Paints shares fell by 4% to Rs 3145. Larsen & Toubro shares slipped by 4.15% to Rs 3500, and Axis Bank shares tumbled by 3.75% to Rs 1179.60. Reliance Industries shares experienced a drop of 3.71% to Rs 2821.10. These declines indicate the widespread impact of the market crash on various sectors and leading companies.