Stock Market Storm: Equity Investors Lose Billions Amid Middle East Tensions

Equity investors have experienced significant financial losses, amounting to Rs 8.35 lakh crore, as the stock market tumbled over two consecutive days. The benchmark Sensex dropped nearly 2 percent, primarily due to heightened tensions in the Middle East and a subsequent surge in Brent crude oil prices to unprecedented levels.

On Friday, the 30-share BSE Sensex fell by 573.38 points, accounting for a decline of 0.70 percent, concluding the trading day at 81,118.60. Although the index showed some recovery from its intra-day low of 80,354.59, the downtrend continued, resulting in a cumulative loss of 1,396.54 points over two days.

The market turmoil has been attributed to Israel's military strikes on Iran, which caused a significant increase in crude oil prices. This external development has adversely affected the Indian rupee and put selling pressure on stocks within oil marketing companies, the paint industry, and other sectors. Despite this, some companies like Tech Mahindra, Tata Consultancy Services, Maruti, and Sun Pharma reported gains.

(With inputs from agencies.)