Why stock market is down for fourth session; decoding the equity crash in numbers

Benchmark indices Sensex and Nifty fell in opening deals for the fourth straight session this week as crude prices hit the $101 per barrel mark today. The ongoing US-Iran war has brought crude oil prices on the boil with both nations claiming their control over Strait of Hormuz and ships taking alternate routes to avoid losses. Meanwhile, Sensex tanked 917 pts to 75,474 and Nifty fell 263 pts to 23,606. Market cap of BSE-listed firms fell by Rs 5.42 lakh crore to Rs 471.31 lakh crore against the previous day's market cap of Rs 476.73 lakh crore.

Here's a look at today's market crash in numbers:

Top losers and gainers 

Stocks such as Bajaj Finance, IndiGo, Eternal, Bharti Airtel, M&M and L&T, Tata Steel , UltraTech Cement were the top losers today, falling up to 3.16%.

ITC was the only gainer on Sensex, rising up to 0.62% on Friday.

66 stocks hit 52-week lows 

Amid the weakness in market, as many as 66 stocks hit their 52-week lows today. On the other hand, 56 shares hit their 52-week highs on BSE in early deals today.

India VIX rises 

In the current session, the India VIX index rose 8.13% to 14.58 against the previous close of 13.48.The rise in India VIX signaled an increase in volatility in the stock market today.

Market breadth in red

Out of 3,817 stocks traded, stocks were trading in the green. Around 2662 stocks were trading in the red while 928 stocks remained unchanged.

Lower circuits, Upper circuits

Around 140 stocks hit their lower circuits as the stock market tanked in early deals today. On the other hand, 74 shares hit their upper circuit limits, amid weak sentiment on BSE.

FII selloff 

Foreign institutional investors sold Rs 2765 crore worth of equities on a net basis on Thursday, while domestic investors sold Rs 2708 crore of shares, as per provisional NSE data.

Expert take 

VK Vijayakumar, Chief Investment Strategist, Geojit Investments said, “The total uncertainty and high volatility in markets continues without any signs of immediate respite. The attack on Saudi tankers by the Iran-backed Houthis in the Red Sea is the main reason for the recent sharp spike in Brent crude to about $100. Such high price is bound to revive India’s Balance of Payments concerns. Rupee too has been impacted, though mildly, with the currency depreciating to 96.57 to the dollar. With the rupee weakening again, FPIs who had turned buyers on many days this month have again shifted to the sell-mode. The spike in the US 10-year yield to 4.7% is negative for equity markets globally. This is a near-term risk."

Previous session

Sensex declined 363.66 points or 0.47 per cent to close at 76,391.39, while the Nifty50 index fell 126.65 points or 0.53 per cent to close at 23,869.60.