Indian Stock Market Crash | Iran War Wipes Off Rs 30 Lakh Crore, Rs 12 Lakh Crore Lost On March 9

Escalating hostilities in the Middle East have triggered a sharp sell-off in Indian equities, erasing nearly Rs 31 lakh crore in investor wealth since the fresh round conflict involving the US, Israel and Iran began on February 28. Indian benchmark indices have fallen steadily as investors grapple with surging crude oil prices, foreign fund outflows and fears of a broader economic fallout for India -- the world's third-largest crude importer. On Monday itself, around Rs 12.78 trillion was lost in market capitalisation. At the time of writing this report, the BSE Sensex was trading at 76,619.25 levels, down by 2,299.65 points or 2.91 per cent from previous session's close of 78,918.90. The NSE Nifty 50 was down 714.20 points or 2.92 per cent at 23,736.25 levels from 24,450.45. The slide marks one of the steepest bouts of volatility for Dalal Street in over a year.