Stock market crash India: Stock market investors lost Rs 12.87 lakh crore on Thursday (March 19) as Sensex and Nifty 50 crashed more than 3 per cent each.
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.
Since the start of the Middle East war (February 28), investors have lost over Rs 37 lakh crore.
Snapping its three-day winning run, Sensex tanked 2,496.89 points or 3.26 per cent to settle at 74,207.24, a level not seen since April 7, 2025. This was also its biggest single-day plunge since June 2024.
The 50-share NSE Nifty tumbled 775.65 points or 3.26 per cent to end at 23,002.15.
Volatility surged sharply, with the India VIX rising 21.8% to 22.80, reflecting heightened uncertainty and a spike in risk aversion among investors.
All sectoral indices ended lower, with rate-sensitive Auto, Realty, Financial Services, and Private Bank indices suffering the deepest cuts amid soaring crude prices.
The sell-off hit midcaps and smallcaps hard: Nifty Midcap 100 fell 3.19%, and Nifty Smallcap 100 dropped 2.94%.
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 $119 mark, adding to the negative sentiment. Furthermore, a hawkish stance from the U.S. Federal Reserve, along with continued foreign institutional investor outflows, weighed heavily on market sentiment. Additional pressure came from rupee weakness and rising concerns over inflation and economic growth.
Vinay Rajani, Senior Technical Research Analyst, HDFC Securities, said that Nifty breached its key prior swing low of 22,955, confirming bears' return with vengeance. Now below all major moving averages, the index faces resistance at 23,378, with support shifting to 22,500–22,700.
From a technical perspective, Ajit Mishra – SVP, Research, Religare Broking, said that Nifty erased the gains of the previous three sessions in a single move and breached the prior swing low around the 22,900 level during the day.
"These developments indicate that the corrective trend remains intact, with immediate support placed in the 22,500–22,800 zone. On the upside, any rebound towards the 23,400–23,600 range is likely to encounter strong resistance," he said.
