Stock Market Crash: Lakhs of Crores Evaporate as Indices Plummet Amid Global Tensions

• Indian stock markets witnessed a massive fall, with Sensex plummeting 1,958.04 points (2.63%) to 72,574.92 and Nifty dropping 629.65 points (2.72%) to 22,484.85.
• Key factors include soaring crude oil prices (Brent at $112.9/barrel), continuous selling by Foreign Portfolio Investors (FPIs) with Rs. 90,152 crores outflow in March, and a 17% rise in India VIX.
• Geopolitical tensions between the US and Iran, particularly threats to the Strait of Hormuz, fueled global uncertainty and impacted investor sentiment.
• Weak global cues from Asian markets (Kospi -6%, Nikkei -4.6%) and US markets closing with losses contributed to the domestic market decline.
• The rupee hit a record low of 93.94 against the US dollar due to rising oil prices and foreign fund outflows, while major stocks like HDFC Bank and SBI also saw significant drops.