Stock Market Plunges: Sensex Down 700 Points, ₹7 Lakh Crore Wiped Out

• Indian stock markets experienced a sharp decline on Friday, with Sensex falling 770 points and Nifty closing below 25,100.
• Key factors contributing to the crash include continuous FII selling for 13 sessions, weak quarterly results from major companies like ICICI Bank and HCL Technologies, and rising crude oil prices.
• Geopolitical tensions, a sharp decline in Adani Group shares due to fraud allegations, and widespread selling in banking stocks further exacerbated the market downturn.
• The Indian Rupee hit a record low of 91.99 against the US dollar, adding to investor concerns and FII outflows.
• Despite the overall market pressure, some midcap stocks like Hindustan Zinc, Bajaj Consumer, Ashok Leyland, and Bandhan Bank showed gains.

Why It Matters: Multiple factors, including FII selling, weak earnings, and geopolitical issues, led to a significant market crash.