Investors lost over ₹5 lakh crore within just 15 minutes of Thursday’s opening bell, as India’s stock market witnessed a sharp plunge following the announcement of fresh US tariffs.
According to a report by The Economic Times, the total market capitalisation of BSE-listed companies fell by nearly ₹5.5 lakh crore to ₹453.3 lakh crore during morning trade. All sectors in the benchmark indices traded in the red, with oil stocks emerging as the worst hit.
The BSE Sensex dropped 786.36 points to 80,695.50 in early trade, while the NSE Nifty 50 tumbled 212.8 points to 24,642.25. The sharp fall came a day after Foreign Institutional Investors pulled out equities worth ₹850.04 crore on Wednesday, as shown by exchange data.
Oil and gas counters were among the worst performers, with Indian Oil Corporation, BPCL, Mahanagar Gas, ONGC and Gujarat Gas all trading lower.
Heavyweights such as Reliance Industries, Tata Motors, Mahindra & Mahindra, Bharti Airtel, Titan and State Bank of India were also among the worst-hit Sensex stocks.
However, not all counters were under pressure — Hindustan Unilever, Eternal and Powergrid traded in green territory amid the broader sell-off.
In the wider Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite Index and Hong Kong’s Hang Seng traded lower, although Japan’s Nikkei 225 bucked the trend and quoted in positive territory, according to the news agency.
Meanwhile, the rupee recovered slightly, appreciating 14 paise from its all-time low to stand at 87.66 against the US dollar in early trade on Thursday. At the interbank foreign exchange, the domestic currency opened at 87.66, before slipping to an early low of 87.74 against the dollar.
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