Rs 8 lakh crore wiped out! Sensex plunges 1,690 pts, Nifty below 22,850; RIL, IndiGo lead losers

Domestic equity benchmarks BSE Sensex and NSE Nifty snapped their two-day winning streak on Friday as the rupee plunged to a fresh record low, breaching the 94-mark against the US dollar, driven by fading hopes of a de-escalation in the US-Iran conflict.

At close, the Sensex plunged 1690.23 points, or 2.25 per cent, to settle at 73,583.22, while the Nifty slumped 486.85 points, or 2.09 per cent, to close at 22,819.60.

Investors’ wealth declined by Rs 8 lakh crore, as the combined market capitalisation of BSE-listed companies plunged to Rs 422 lakh crore, compared with Rs 430 lakh crore recorded in the previous session.

“Volatility remained a key concern, with India VIX spiking towards 27, up nearly 9% on the day. Such elevated levels indicate heightened market anxiety and significantly alter trading dynamics,” said Hariprasad K, SEBI-registered research analyst and founder, Livelong Wealth.

Top losers & gainers

Among Sensex constituents, Reliance Industries emerged as the top loser, declining 4.55% to Rs 1348.25. InterGlobe Aviation (IndiGo) followed with a 4.54% drop, while Bajaj Finance, State Bank of India (SBI), Eternal and HDFC Bank fell 4.32%, 3.82%, 3.76% and 3.26%, respectively.

While Tata Consultancy Services, Bharti Airtel and Power Grid were among gainers on the 30-pack index, which rose up to 0.49%.

Five stocks, namely Reliance Industries, HDFC Bank, ICICI Bank, SBI, and Bajaj Finance, contributed largely to the Sensex’s fall.

Among sectoral indices, all major sectors ended the session on a negative note. The BSE PSU Bank plummeted 3.88% to close at 4,635.05, while the BSE Auto index declined 2.79% to end at 53,871.06.

“Profit booking set in after the recent two-session rally as the rupee fell to an all-time low amid sustained FII selling, while escalating tensions in the Middle East heightened caution among investors ahead of the weekend,” said Vinod Nair, Head of Research, Geojit Investments Limited.