Investors' wealth erodes by over Rs 22 lakh cr since beginning of West Asia conflict
New Delhi (PTI): Equity investors became poorer by Rs 22.40 lakh crore since the beginning of the conflict involving the US, Israel and Iran, which has rattled stock markets, driving the BSE Sensex lower by 4.6 per cent.
The US and Israel launched military strikes on Iran on February 28, killing Ayatollah Ali Khamenei, Iran's supreme leader.
Following the military offensive, Iran has carried out a wave of attacks mainly targeting Israeli and American military bases in several Gulf countries, including the UAE, Bahrain, Kuwait, Jordan, and Saudi Arabia.
Brent crude, the global oil benchmark, jumped 12.82 per cent to USD 104.6 per barrel.
Since February 27, the 30-share BSE Sensex has tanked 3,721.03 points or 4.57 per cent.
The market capitalisation of BSE-listed companies dropped sharply by Rs 22,40,408.82 crore to Rs 4,41,10,262.45 crore (USD 4.78 trillion) during this time.
"Indian equity markets ended the session sharply lower after opening with a steep gap-down of nearly 3 per cent, as weak global cues and the deepening conflict in the Middle East weighed heavily on investor sentiment.
"The escalation in geopolitical risks pushed crude oil prices above the USD 100 per barrel mark and drove the Indian rupee to a record low against the US dollar, amplifying concerns around inflation and external balances," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
On Monday, the Sensex tanked 1,352.74 points or 1.71 per cent to settle at 77,566.16, registering its second day of decline. During the day, the benchmark crashed 2,494.35 points or 3.16 per cent to 76,424.55.
"Selling intensified as the Middle East conflict entered its second week with no signs of de-escalation," Vinod Nair, Head of Research, Geojit Investments Limited, said.
UltraTech Cement was the biggest loser in the Sensex pack, tumbling 5.09 per cent, followed by Maruti, Mahindra & Mahindra, State Bank of India, InterGlobe Aviation, and Adani Ports, which were among the major laggards.
In contrast, Reliance Industries, Sun Pharma, Infosys, Tech Mahindra and HCL Tech were the gainers.
The BSE smallcap select index dived 2.11 per cent and the midcap select index tanked 2.08 per cent.
All BSE sectoral indices ended lower. The BSE mid-small private banks quality tilt tumbled 4.50 per cent, PSU Bank (3.92 per cent), auto (3.89 per cent), services (3.37 per cent), Bankex (3.16 per cent), oil & gas (3.11 per cent) and Private Banks index (2.89 per cent).
A total of 3,379 stocks declined, while 972 advanced and 185 remained unchanged on the BSE.
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CBI summons Vijay on Tuesday for further questioning on Karur stampede
New Delhi (PTI): The CBI has summoned actor and TVK chief Vijay on Tuesday for a fresh round of questioning in connection with the Karur stampede case, officials said.
The actor was earlier questioned by the agency at its headquarters on January 12 and 19.
During the probe, the CBI has gathered material that needs further questioning and clarifications from the actor, the officials said. A new notice has been served to him.
The CBI took over the case from an SIT following a Supreme Court order and has been gathering evidence related to the September 27, 2025 stampede, which claimed 41 lives and left more than 60 people injured, during Vijay's rally in Tamil Nadu's Karur.
In October last year, the apex court asked the CBI director to appoint a senior officer to take over the investigation and also constituted a supervisory committee headed by former Supreme Court judge Ajay Rastogi to monitor the agency's investigation.
A bench comprising Justices J K Maheshwari and N V Anjaria had said the stampede has left an imprint in the minds of citizens throughout the country. It has wide ramifications with respect to the lives of citizens, and enforcing the fundamental rights of the families who lost their kin is of utmost importance, the court said.
"The faith and trust of the general public in the process of investigation must be restored in the criminal justice system, and one way to instil such trust is by ensuring that the investigation in the present case is completely impartial, independent and unbiased," the bench said.
