Indian stock markets opened the week with a steep sell-off, pushing benchmark indices sharply lower within the first hour of trade.
The BSE Sensex fell by around 1,900 points to 72,628, while the NSE Nifty dropped about 600 points to 22,504. The slide wiped out an estimated Rs 14 lakh crore of investor wealth in roughly an hour.
As a result, the total market capitalisation of BSE-listed companies declined to about Rs 415 lakh crore from around Rs 429 lakh crore.
Foreign investors have also continued to pare exposure. In March so far, foreign institutional investors have sold shares worth roughly Rs 90,152 crore.
Market watchers attributed the ongoing weakness to factors including the intensifying US-Iran conflict, rising crude oil prices, heightened investor fear, foreign outflows and broader global market pressure.
