Stock market today: A day after logging strong gains of more than 1% each, domestic market benchmarks, the Sensex and the Nifty 50, resumed their downward March on Friday, March 6, due to profit booking amid persisting concerns over the US-Iran war, crude oil price spike, and heavy foreign capital outflow.
The Senex crashed nearly 700 points, or almost 1%, to an intraday low of 79,346, while the Nifty 50 fell to 24,575 during the session, falling nearly 200 points, or about 1%.
The overall market capitalisation of BSE-listed firms slipped to ₹452 lakh crore from ₹453 lakh crore in the previous session, resulting in a loss of ₹1 lakh crore for investors in a single session.
Why is the Indian stock market falling?
1. Stretching US-Iran war
The market’s rise in the previous session was more of a short-covering rally after the recent fall, amid reports that Iran was making conditional offers to the US. Later, some media reports claimed that Tehran had made no offer to Washington, raising concerns that the war could last longer.
The combined attack of the US and Israel on Iran entered its seventh day on Friday. US President Donald Trump has reportedly said he has no time limits for ending the war.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
