Stock market crash today: BSE Sensex plunges 700 points, investors lose Rs 5 lakh crore; top reasons for bear attack – Times of India

Stock market crash today: BSE Sensex plunges 700 points, investors lose Rs 5 lakh crore; top reasons for bear attack - Times of India

Stock Market Crash Today: BSE Sensex And the Nifty 50, India’s benchmark equity index, opened in the red on Monday amid global cues and uncertainty. BSE Sensex fell 700 points and Nifty50 was around 22,300. At 9:31 am, the BSE Sensex was trading down 651 points or 0.88 percent at 73,594.17. The Nifty 50 was down 206 points or 0.92 percent at 22,313.25.
Indian stock markets opened lower on Saturday after Asian markets trended lower as Iran’s retaliatory attack on Israel weighed on investor sentiment, raising fears of a possible wider conflict in the region.
The total market capitalization of BSE-listed companies fell by Rs 5 lakh crore to Rs 394.68 lakh crore.
Sector-wise, Nifty PSU Banks, Realty, and Media opened with losses of over 2%, while Nifty Auto, Financials, Metals, Pharma, and Oil & Gas opened with losses of 1-2%. .

Why has BSE Sensex, Nifty 50 fallen today?

  1. Iran launched a drone missile attack on Israel on Saturday night, reportedly in retaliation for a suspected Israeli attack on its consulate in Damascus on April 1, which killed seven Iranian Revolutionary Guards officers, including two generals. Following Iran’s military action, both the Sensex and Nifty saw significant declines on Monday as investors expressed apprehension about the possible impact of an attack on Israel. With the market currently at highs, investors are feeling cautious. “Geopolitical tensions have the potential to trigger a sharp market reaction, and we are keeping a close eye on the situation,” Kranthi Bathani of Wealth Mills Securities told ET Markets.
  2. Asian markets opened cautiously on Saturday, with MSCI’s Asia-Pacific shares outside Japan down 0.7 percent after Iran launched explosive drone and missile strikes on Israel on Saturday. Japan’s Nikkei fell more than 1%, Australia’s S&P/ASX 200 index fell 0.6%, and Hong Kong’s Hang Seng index fell 0.8%.
  3. U.S. Treasury yields remained near recent highs as traders adjusted their expectations for the pace and scale of the Federal Reserve’s rate cuts this year. The benchmark 10-year yield was at 4.5277%, while the two-year yield was around 5% at 4.8966%.

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