New Delhi, March 19: The Indian equity market witnessed a sharp reversal on Thursday, as benchmark indices tumbled nearly 3.3 per cent due to heightened global tensions and soaring oil prices. The 30-share BSE Sensex dived over 2,750 points during intraday trade before closing at its lowest level since April 2025, resulting in a single-day loss of Rs 12.87 lakh crore for shareholders.
Market researchers asserted that the primary catalyst for the “mayhem” was the ongoing crisis in West Asia, which has now cost investors more than Rs 37 lakh crore since late February. With Brent crude approaching the USD 119 mark, concerns over domestic inflation and fiscal stability have intensified. Ajit Mishra, SVP of Research at Religare Broking Ltd, maintained that the combination of supply disruption fears and foreign fund exits weighed heavily on the indices.
Individual stock performance showed widespread weakness among blue-chip firms. Major laggards included Bajaj Finance, Mahindra & Mahindra, and Larsen & Toubro. The resignation of HDFC Bank’s chairman, Atanu Chakraborty, also contributed to a sharp decline in the banking sector. All major sectoral indices, including IT and consumer durables, finished the day with significant losses.
The broader market reflected the panic, as both mid-cap and small-cap indices fell by more than 2.5 per cent. Experts stated that the current volatility is likely to persist as long as energy infrastructure remains under threat. “Indian equity markets witnessed a sharp reversal today, breaking their three-day recovery rally,” declared market analysts, affirming that the path forward remains dependent on geopolitical developments.
