Stock Market Watch: Amid escalating tensions between Israel and Iran, the tremors have been felt across Asian financial markets, resulting in a downturn. India’s primary stock indices, the Sensex and Nifty, have witnessed a sharp decline. The market’s opening bell saw the Sensex dip below the 71,900-point mark, while the Nifty fell short of 21,900 points. This downward trend was accompanied by intense selling activity, particularly within the small-cap and mid-cap sectors. Today’s trading session has seen no respite for the sectoral indices of Nifty, all of which are languishing outside the green zone.
The bearish sentiment has had a tangible effect on the Bombay Stock Exchange (BSE), where the market capitalization of listed companies has shrunk by a staggering ₹3.71 lakh crore, reflecting a sharp erosion of investor wealth right at the start of the day.
Equity Benchmarks Bear the Brunt
The BSE Sensex is currently reeling from a loss of 608.50 points, a decline of 0.84%, to stand at 71,880.49. Similarly, the Nifty 50 has retreated by 182.80 points, or 0.83%, to 21,813.05. This marks a contrast from the previous trading session’s close, where the Sensex stood at 72,488.99 and the Nifty at 21,995.85.
Investor Wealth Takes a ₹3.71 Lakh Crore Hit
Comparing market capitalizations, the BSE saw a total valuation of ₹3,92,89,048.31 crore on April 18, 2024. Fast forward to the morning of April 19, 2024, and this figure has plummeted to ₹3,89,17,408.51 crore. This represents a substantial depletion of investor capital by ₹3,71,639.8 crore.
Sensex Shares Struggle Across the Board
In today’s session, none of the 30 Sensex-listed shares have managed to stay in positive territory. Notable declines have been observed in stocks such as Titan, ITC, and Sun Pharma.
Mixed Fortunes: 55 Shares Hit One-Year Peak
Out of the 2,384 shares currently traded on the BSE, 562 are showing bullish signs, while 1,718 are on a downward trajectory, and 104 are holding steady. In a silver lining, 55 shares have soared to a one-year high, though 11 have slumped to their lowest annual levels. Additionally, 57 shares have reached their upper circuit limits, while 41 have hit their lower circuit thresholds.