Stock market mayhem wipes out Rs 12.87 lakh cr from investors' wealth
New Delhi (PTI): Equity investors' wealth eroded by Rs 12.87 lakh crore on Thursday as stock markets went into a tailspin, with the benchmark Sensex plunging over 3 per cent, pressured by a spike in crude oil prices due to increasing attacks on energy infrastructure in West Asia.
Investors have lost over Rs 37 lakh crore since the West Asia crisis erupted on February 28.
Snapping its three-day winning run, the 30-share BSE Sensex tanked 2,496.89 points or 3.26 per cent - its biggest single-day plunge since June 2024 -- to settle at 74,207.24, a level not seen since April 7, 2025. During the day, it dived 2,753.18 points or 3.58 per cent to 73,950.95.
The market capitalisation of BSE-listed companies dived sharply by Rs 12,87,273.89 crore to Rs 4,26,13,557.95 crore (USD 4.61 trillion) in a single day.
"Indian equity markets witnessed a sharp reversal today, breaking their three-day recovery rally and closing significantly lower, with benchmark indices declining by nearly 3.3 per cent.
"The sell-off was largely driven by a fresh escalation in geopolitical tensions in the Middle East, where renewed strikes between Israel and Iran targeting critical oil and LNG infrastructure have reignited concerns over global energy supply disruptions," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Brent crude, the global oil benchmark, soared 6.21 per cent to USD 114 per barrel.
"The sharp rise in crude oil prices, driven by escalating tensions in the Middle East and concerns over supply disruptions, pushed prices closer to the USD 119 mark, adding to the negative sentiment. Furthermore, a hawkish stance from the US Federal Reserve, along with continued foreign institutional investor outflows, weighed heavily on market sentiment," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
From the 30-Sensex firms, Eternal, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, Larsen & Toubro and InterGlobe Aviation were among the major laggards.
HDFC Bank dropped 5.13 per cent after its chairman, Atanu Chakraborty, resigned, citing ethical concerns.
BSE MidCap Select index tumbled 3.34 per cent and SmallCap Select index dropped 2.77 per cent.
All sectoral indices ended lower. Auto dived 4.07 per cent, followed by realty (3.79 per cent), financial services (3.66 per cent), consumer discretionary (3.62 per cent), BSE Top 10 Banks (3.53 per cent), industrials (3.49 per cent), services (3.44 per cent), BSE Focused IT (3.41 per cent) and consumer durables (3.38 per cent).
A total of 3,192 stocks declined, while 1,051 advanced and 161 remained unchanged on the BSE.
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Madhu Kishwar booked over misleading content on social media
Chandigarh (PTI): Madhu Kishwar has been booked following a complaint by a Chandigarh resident over the alleged circulation of forged and misleading content on social media.
An FIR has been lodged against Kishwar and some other social media users under relevant sections, including 196 (criminalises acts that promote enmity, hatred, or ill-will between groups based on religion, race, language), 336 (1) (forgery) and 356 (criminal defamation) of Bharatiya Nyaya Sanhita and the IT Act at Police Station Sector-26 here.
According to an official statement issued by the Chandigarh police on Monday, a city-based complainant on April 19 alleged that some forged and misleading social media posts and video clips with obscene text and content were being circulated by various social media users, misidentifying the person in the video.
Further investigation into the matter is underway.
As per the complainant, it is a deliberate act of creating a false electronic record using obscene words and phrases, having knowledge and sufficient reason to believe that the posts are misleading and false, with the intent to cause damage or injury.
The video, which circulated with the intent to cause harm to the reputation of a constitutional authority and to disturb public peace and tranquility, should be investigated, and appropriate action should be taken, according to the complainant.
As per the complainant, the person seen in the video is a travel vlogger whose wife regularly posts updates about their activities on social media. The original video was shared from her social media account.
"As per the statement of the woman, she disclosed that the person in the video shared from her account is her husband. Statements of her husband and another lady in the video have also been recorded during preliminary investigation," said police in the statement.
Meanwhile, Kishwar, in a social media post, said a team of Chandigarh police had visited her late Monday night to serve her notice regarding the FIR registered against her.
"Since the law forbids the police to visit or arrest women after dark and before sunrise, I spoke on phone to the leader of the delegation. She told me that their team has come to serve notice regarding an FIR registered against me in Chandigarh. I insisted that they go by the law and come in the morning," she wrote on X.
