Sensex, Nifty extend losses for fourth straight day; Rs 8.1 lakh crore investor wealth eroded

Indian equity benchmarks slid sharply in late trade on Thursday, weighed down by broad-based selling and extending their decline for a fourth consecutive session. At close, the 30-share BSE Sensex was down 780 points or 0.92 per cent at 84,181, while the NSE benchmark slumped 264 points or 1.01 per cent to settle at 25,877. Selling pressure intensified toward the close, with the sharp fall wiping out nearly Rs 8.1 lakh crore in BSE market capitalisation (m-cap).

The broader market also came under strain, with BSE mid-cap and small-cap indices slipping into the red. The sell-off was largely driven by concerns over a possible escalation in US trade actions against countries importing Russian oil.

US Senator Lindsey Graham said President Donald Trump has approved a bill that could sharply raise tariffs on countries such as India, China and Brazil for continuing to buy Russian oil despite international sanctions. Graham added that tariffs on India and China could increase by as much as 500 per cent as early as next week.

Here's a snapshot of today's market fall:

Rs 8.1 lakh crore investor wealth lost

Investor wealth, measured by BSE m-cap, declined by Rs 8.11 lakh crore to Rs 471.82 lakh crore from Rs 479.94 lakh crore in the previous session. Heavyweights such as Reliance Industries, Larsen & Toubro (L&T), Tata Consultancy Services (TCS), Infosys, Airtel, State Bank of India, HDFC Bank, Tata Steel and Tech Mahindra weighed on the benchmarks.

189 stocks hit 52-week lows on BSE

As many as 189 stocks touched their 52-week lows. BSE500 constituents including Afcons Infrastructure, AWL Agri Business, BASF India, Bata India, Blue Jet Healthcare, Clean Science and Technology, Cohance Lifesciences and Colgate Palmolive (India) slipped to their respective one-year lows. Meanwhile, 113 stocks managed to hit fresh 52-week highs during the session.

3,157 stocks in the red

Out of 4,366 stocks, 3,157 stocks were seen declining. 1,039 stocks were advancing, while 170 stocks remained unchanged.

FII-DII data

Foreign institutional investors (FIIs) sold Rs 1,668.80 crore on a net basis during the previous session, while domestic institutional investors (DIIs) purchased Rs 2,991.95 crore, according to stock exchange data.

On the global front, most Asian markets traded lower. Japan's Nikkei index fell 1.63 per cent, while Hong Kong's Hang Seng tanked 1.17 per cent. Shanghai Composite index shed 0.07 per cent, while South Korea's Kospi index edged up 0.03 per cent.