All the sectors in the benchmark indices remained in red as oil stocks were worst hit. Sensex saw a drop of over 500 points, while Nifty 50 shredded 150 points.
The investors lost over ₹5 lakh crore in 15 minutes on Thursday as the market opened in red, seeing a sharp plunge following the US tariff announcement.
The total market capitalisation (m-cap) of BSE-listed companies fell by around ₹5.5 lakh crore to ₹453.3 lakh crore in the morning trade, The Economic Times reported.
All the sectors in the Indian benchmark indices remained in red as oil stocks were worst hit.
Also Read: Stock market: Sensex plunges 500 points, Nifty down by 0.6%, oil stocks slide
The BSE Sensex tanked 786.36 points to 80,695.50 in opening trade. The 50-share NSE Nifty tumbled 212.8 points to 24,642.25.
The exchange data showed that Foreign Institutional Investors (FIIs) withdrew equities worth ₹850.04 crore on Wednesday.
Oil stocks were one of the worst hit in the early trade as Indian Oil Corporation, BPCL, Mahanagar Gas, ONGC and Gujarat Gas traded in red.
Some of the worst-hit Sensex stocks include Reliance Industries, Tata Motors, Mahindra & Mahindra, Bharti Airtel, Titan and State Bank of India. However, Hindustan Unilever, Eternal and Powergrid were trading in green.
In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng traded lower while Japan’s Nikkei 225 index quoted in positive territory, according to news agency PTI.
Meanwhile, the rupee recovered 14 paise from its all-time low to 87.66 against the US dollar in early trade on Thursday. At the interbank foreign exchange, the rupee opened at 87.66, then touched an early low of 87.74 against the US dollar.
The article originally appeared on Hindustan Times
