Stock market update: Nifty Auto index advances 0.17% in a weak market
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Mint
an hour ago
- Mint
Sensex crashes 850 points, investors lose ₹5 lakh crore; why is the Indian stock market falling? EXPLAINED
The Indian stock market suffered strong losses across segments on Thursday, June 12. The Sensex fell over 850 points, and the Nifty 50 dropped below 24,900 during the session. The mid and small-cap indices fell over 1 per cent each. The Sensex opened at 82,571.67 against its previous close of 82,515.14 and plunged 853 points, or 1 per cent, to an intraday low of 81,661.68. The Nifty 50 opened at 25,164.45 against its previous close of 25,141.40 and crashed 1 per cent to an intraday low of 24,871. The overall market capitalisation of firms listed on the BSE dropped to nearly ₹ 451 lakh crore from about ₹ 456 lakh crore in the previous session, making investors poorer by about ₹ 5 lakh crore in a single session. Experts point out the following five factors behind the selloff in the Indian stock market: Rising tensions in the Middle East weighed on markets globally. Major Asian and European markets suffered significant losses during the session on signs of rising tensions between the US and Iran. The US is pulling out non-essential personnel from the Middle East due to rising regional tensions as nuclear negotiations continue to break down, according to statements from the US State Department and the military reported by The Times of Israel on Wednesday. Speculations are rife that Israeli forces would carry out an attack against Iran's nuclear program. Meanwhile, US President Donald Trump has reiterated that the US won't allow Iran to have a nuclear weapon. The US-China trade deal has failed to boost market sentiment as investors hoped for a more sweeping deal. Trump announced on Wednesday that China will supply the US with rare-earth minerals and magnets and that the US administration will allow Chinese students into US universities. However, Trump and his Chinese counterpart still need to agree on the deal. 'Our deal with China is done, subject to final approval with President Xi and me. Full magnets and any necessary rare earths will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55% tariffs, and China is getting 10%. The relationship is excellent! Thank you for your attention to this matter!' Trump wrote on Truth Social. "There are reports of a possible agreement between the US and China. But the Chinese haven't officially confirmed anything. President Trump is talking about a 55 per cent tariff on China and a 10 per cent tariff on the US. Trump's credibility being what it is, it would be too early to discount this as positive for markets," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments. (This is a developing story. Please check back for fresh updates.)
Hindustan Times
an hour ago
- Hindustan Times
Market trade slips lower after early gains amid tensions in Middle East
Benchmark indices Sensex and Nifty began the trade with modest gains on Thursday and later traded lower in-tandem with sluggish global market trends amid growing tensions in the Middle East. Fresh foreign fund outflows also dented investors' sentiment. The 30-share BSE Sensex climbed 108.02 points to 82,623.16 in early trade. The 50-share NSE Nifty went up by 38.7 points to 25,180.10. However, later both the benchmark equity indices slipped in the negative territory and were trading lower. The BSE benchmark gauge quoted 178.60 points lower at 82,331.42, and the Nifty traded 57.15 points down at 25,093.75. From the Sensex firms, Asian Paints, Bajaj Finserv, Bharti Airtel, NTPC, Adani Ports, HDFC Bank, Bajaj Finance and Larsen & Toubro were among the biggest gainers. Infosys, Eternal, Tech Mahindra and Tata Motors were among the laggards. In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index were trading in the positive territory while Japan's Nikkei 225 index and Hong Kong's Hang Seng quoted lower. US markets ended lower on Wednesday. Foreign Institutional Investors (FIIs) offloaded equities worth ₹446.31 crore on Wednesday, according to exchange data. "The recent flattish trend in the market is likely to continue in the near-term since there are no clear positive triggers that can push the market much higher," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. The spike in Brent crude to $70 on heightened security risks in the Middle East is a negative for India, he added. Global oil benchmark Brent crude declined 0.42 per cent to USD 69.48 a barrel. On Wednesday, the 30-share BSE Sensex rose by 123.42 points or 0.15 per cent to settle at 82,515.14. The Nifty ended 37.15 points or 0.15 per cent up at 25,141.40.
Time of India
an hour ago
- Time of India
Why is the Indian stock market falling? Top factors behind 900-point Sensex crash, Nifty below 24,900
Indian benchmark indices Sensex and Nifty declined sharply on Thursday as investors reacted to a cocktail of global uncertainties, including escalating tensions in the Middle East and a cautious tone ahead of the weekly F&O expiry. The sell-off was led by IT stocks, with benchmark indices slipping nearly 1% in intraday trade. The BSE Sensex slumped over 900 points, to the day's low of 81,605.82 around 2:06 PM, meanwhile, the NSE Nifty fell nearly 250 points to slip below the 24,900 level. The market capitalisation of all listed companies on the BSE shrank by Rs 4.19 lakh crore to Rs 451 lakh crore, reflecting broad-based selling across sectors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Indonesia (Prices May Surprise You) Container House | Search ads Search Now Undo Below are the key factors weighing on sentiment: 1) Middle East tensions escalate Investors turned risk-averse following a string of developments pointing to a deteriorating security situation in the Middle East. U.S. President Donald Trump said on Wednesday US personnel were being moved out of the Middle East because "it could be a dangerous place," adding that the United States would not allow Iran to have a nuclear weapon. Live Events Reuters reported that the U.S. is preparing a partial evacuation of its embassy in Iraq and will allow military dependents to leave locations across the region due to rising threats, citing both American and Iraqi officials. The timing is particularly sensitive as, according to U.S. intelligence, Israel is reportedly preparing for a potential strike on Iran's nuclear facilities. At the same time, Iranian Defence Minister Aziz Nasirzadeh warned that 'if Iran was subjected to strikes it would retaliate by hitting U.S. bases in the region.' Regional markets mirrored the tension. Saudi Arabia's benchmark index fell 1.3%, dragged down by heavyweights like Al Rajhi Bank, which slipped 0.6%, and Saudi Aramco, which was down 0.4%. Dubai's main share index recorded its steepest intraday fall since April, losing 1.7%, with Emaar Properties tumbling 3%. MORE TO COME.....
