Stock Market Closing: Sensex Bleeds 744 Pts; Nifty Crashes 240 Pts; Rs 7 Lakh Cr Wiped Out In Single Day

Stock Market ClosingL The Indian stock market closed sharply lower on Friday amid heavy selling pressure. The benchmark Nifty slipped nearly 240 points, while the BSE Sensex plunged around 744 points. The sharp decline in the final trading session of the week wiped out nearly Rs 6.95 lakh crore of investor wealth.

The Nifty 50 slipped nearly 240 points to close near the 25,000 mark, while the BSE Sensex plunged around 769 points. Heavyweights such as Maruti Suzuki, IndiGo, Adani Group stocks and L&T were among the top losers.

Why Stock Market Crashed Today?

The sharp sell off in the Indian stock market was led by a host of factors including rising geopolitical tensions over the United States acquisition plans for Greenland, and its tensions with European nations. Additionally, ongoing Q3 seasons and weak performance by the Indian Rupees were among the key contributing factors in the stock market crash.

Broad Market Worst Hit

The broader market, led by midcap and smallcap stocks, bore the brunt of the selling pressure during Friday's session. Nifty Midcap 50 and Midcap 100 both were down around 1.8%. Whereas, Nifty Smallcap 100 closed with a 2% loss. India Vix was up around 6%, indicating a massive volatility in the trading session.

Nearly Rs 6.95 Lakh Crore Wealth Wiped Out

The brutal fall of Nifty and Sensex led investors to lose around Rs 6.95 lakh crore wealth in a single day. The overall market capitalisation of BSE-listed firms fell around Rs 6.95 lakh crore crore from Rs 458.5 lakh crore on Thursday to nearly Rs 451.56 lakh crore on Friday.

"Indian equity markets ended lower on Friday as persistent selling pressure weighed on sentiment throughout the session. The benchmark Nifty opened at 25,344, briefly touched an intraday high of 25,347, and drifted lower to test the 25,050 level. Sectorally, the pressure was broad-based, with all major indices ending in the red. Realty, PSU Banks, Media, and Energy stocks bore the brunt of the selling, reflecting risk-off sentiment across the market. On the macro front, the rupee slipped to a fresh all-time low of 91.95 against the US dollar, further dampening investor confidence," stated Ashika Institutional Equities in their report.

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