Sensex
Business News: The echo of increasing military tension between India and Pakistan is now being heard in the stock market. On May 8, where reports came out that Pakistan tried to target some military bases in India, while investors suffered a major setback as soon as the market opened on Friday morning. The total market capitalization of listed companies in BSE declined by Rs 8.30 lakh crore, causing an atmosphere of nervousness among investors.
The domestic market started with a huge decline on Friday. The Sensex fell by 1,366 points to close at 78,968.34, while the Nifty also fell by more than one percent. No sectoral index remained in the green mark. The condition of midcap and smallcap shares was worse.
Out of the 30 stocks listed on the Sensex, only Titan, L&T and Tata Motors were able to avoid losses. The biggest decline was seen in strong stocks like PowerGrid, Airtel and HCL Tech, which further deepened the concern of investors.
The total market cap of BSE fell from Rs 4,18,50,596.04 crore to Rs 4,10,19,886.37 crore. This simply means that in just a few hours the market lost assets worth Rs 8,30,709.67 crore. Experts believe that if the tension increases further, this decline may continue for a long time.
This decline in the market has come not only due to economic reasons, but also due to strategic instability. India failed the military efforts made by Pakistan on the night of 8 May, but this has increased concern about the situation like war in investors. Foreign investors are also cautious about the Indian market.
Trading in 2739 shares on BSE today, 2258 shares declined. 14 shares reached the highest level of 52 weeks, while 108 shares fell to the lowest level of one year.
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