The Indian stock market experienced a significant setback as the Israel-Gaza conflict and its effects in the Middle East heightened global uncertainties. The BSE Sensex dropped by 522.82 points (0.81%) to close at 64,049.06, while the Nifty dipped by 159.60 points (0.83%) to 19,122.15. In a single trading session, investors collectively saw a loss of over ₹2 lakh crore.
This adds up to a total loss of ₹14 lakh crore in just five days. Overseas investors sold shares worth ₹4,236.60 crore, whereas domestic investors bought ₹3,569.36 crore. This cautious approach stems from concerns about ongoing global tensions and the potential economic slowdown due to expected higher interest rates.