BSE Sensex and NSE Nifty crashed in early trade on Friday amid weak global trends and West Asian tensions, with the Sensex recovering after an initial drop of 700 points to close 120.83 points lower at 74,781.76.
Investors lost about ₹6 lakh crore in the first five minutes of trade as BSE market capitalisation dropped from nearly ₹484 lakh crore to ₹478 lakh crore.
The downturn was triggered by Brent crude surging past $108 per barrel due to Houthi-Saudi clashes, rising US bond yields, and growing anticipation of a US Federal Reserve rate hike.