Subhechcha Ganguly 
The Indian stock market witnessed a sharp plunge on Thursday morning, erasing over ₹5.5 lakh crore in investor wealth within just 15 minutes of opening. The sell-off followed the announcement of a 25% US tariff on Indian imports, sparking fears of a trade rift between the two nations.
At opening bell, the BSE Sensex dropped 786.36 points to 80,695.50, while the NSE Nifty 50 slipped 212.8 points to 24,642.25. All sectors on the benchmark indices traded in the red, with oil and gas stocks taking the heaviest hit. Major laggards included Indian Oil Corporation, BPCL, ONGC, Mahanagar Gas, and Gujarat Gas.
The total market capitalisation of BSE-listed companies fell from Rs458.8 lakh crore to Rs453.3 lakh crore in early trade, as reported by The Economic Times. Heavyweight stocks such as Reliance Industries, Tata Motors, Mahindra & Mahindra, Bharti Airtel, Titan, and State Bank of India were among the worst performers.
Foreign Institutional Investors (FIIs) also turned net sellers, pulling out ₹850.04 crore from Indian equities on Wednesday, adding further pressure to the market.
Despite the widespread carnage, a few stocks like Hindustan Unilever, PowerGrid, and Eternal managed to stay in positive territory.
Meanwhile, the rupee saw a slight recovery from its all-time low, gaining 14 paise to trade at 87.66 against the US dollar in early trade.
Asian markets reflected mixed sentiments, with South Korea’s Kospi, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng trading lower, while Japan’s Nikkei 225 was in the green.
The steep market correction has raised investor concerns over the global economic outlook and the potential fallout of escalating trade tensions between India and the United States.
