Overview
- The sell‑off accelerated on Wednesday as the S&P BSE Sensex fell 1,677.12 points to 76,503.60 and the NSE Nifty50 dropped 516.65 points to 23,882.05.
- Markets moved sharply after President Donald Trump said the interim agreement with Iran was over and reports of US strikes followed, which pushed Brent crude roughly 6% higher to about $78–79 a barrel.
- Selling was broad based with all 30 Sensex stocks closing lower, India VIX spiking about 26% to roughly 14.68, and estimates that the session erased approximately Rs 8–9 lakh crore of market value.
- Despite the rout, exchange data showed Foreign Institutional Investors were net buyers the previous session (about Rs 393 crore), but analysts warned that higher oil and geopolitical risk could quickly reverse flows and hurt earnings for fuel‑sensitive firms.
- Investors are watching for further developments in US–Iran tensions, the path of crude and global yields, and upcoming corporate earnings because higher oil prices will raise India’s import bill, lift inflation, weaken the rupee and squeeze margins in vulnerable sectors.