Rs.9 Lakh Crore Wiped Out as Sensex Tanks 1,690 Points, Nifty Slumps 488

Indian equity benchmarks suffered a sharp reversal on Friday, March 27, 2026, erasing recent gains as escalating geopolitical tensions in West Asia pushed crude oil prices higher and triggered a broad sell-off on Dalal Street.

The BSE Sensex closed at 73,583.22, plunging 1,690 points or 2.25 per cent. The NSE Nifty 50 settled at 22,819.60, down 488 points or about 2.09 per cent. Intraday, the Sensex hit a low of 73,534.41, while Nifty slipped below 22,804.

The sell-off wiped out approximately Rs.9 lakh crore in investor wealth, with the total market capitalisation of BSE-listed companies falling from around Rs.430-431 lakh crore to about Rs.422 lakh crore.

The primary trigger was a rebound in global crude oil prices, with Brent crude climbing to around $109-111 per barrel amid fading hopes of quick de-escalation in the US-Iran conflict. Higher energy costs raised concerns over imported inflation, input costs for Indian companies, and further pressure on the rupee.

The Indian rupee hit a fresh record low, weakening by 86 paise to close near 94.82 against the US dollar. Persistent foreign institutional investor outflows added to the negative sentiment.

Heavy selling was seen in banking, financials, aviation, and oil marketing companies, which are directly vulnerable to rising fuel costs and margin pressure.

Top losers in the Sensex pack included Reliance Industries (down 4.55 per cent), InterGlobe Aviation, Bajaj Finance, State Bank of India, and HDFC Bank.

A few defensive stocks like Tata Consultancy Services, Bharti Airtel, and Power Grid managed modest gains.

Broader market breadth was weak, with far more decliners than advancers across BSE.