By Admin 
Stock Market Crash: The effect of increasing tension in the Middle East is clearly visible on the Indian stock market. A huge fall was seen in the market at the beginning of the first trading day of the week. BSE Sensex fell by around 2,400 points in early trade. At around 11 am, Nifty 50 was trading at 23,753.85, falling 692.90 points. Due to this sharp decline in the market, the wealth of investors also got a big blow.
According to the report, within just 10 minutes, investors’ capital worth Rs 12.39 lakh crore was wiped out. According to the report of The Economic Times, the total market capitalization of Bombay Stock Exchange (BSE) fell to around Rs 437 lakh crore.
Reason for decline in stock market
According to experts, the main reason for this decline is global geopolitical tension. Investors are currently adopting a cautious approach and are watching what effect the ongoing crisis in the Middle East has on the global energy market. Meanwhile, the global crude oil standard Brent Crude crossed $ 114 per barrel on Monday for the first time since 2022. The rise in oil prices has increased pressure on sectors that are more dependent on fuel costs.
Which stocks are most affected?
The biggest decline in Nifty 50 was seen in the shares of aviation sector. InterGlobe Aviation (Indigo) shares fell by about 7.7 percent to around Rs 4,065.50. SpiceJet shares also fell by about 5 percent. The increase in crude oil prices has the biggest impact on the aviation sector, because it increases the operating costs of airlines. Apart from this, heavy selling was also seen in banking sector shares.
Shares of State Bank of India fell by about 5.9 percent. Whereas Shriram Finance fell by about 5.6 percent, Axis Bank by about 3.7 percent and ICICI Bank by about 3.6 percent. Experts say that in the coming days, the attitude of foreign investors and the direction of crude oil prices will decide what will be the mood of the market on Dalal Street.
Also read: Crude oil prices on fire due to Middle East tension, crude oil crossed 115 dollars; Supply also disrupted
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