Market crashes on Army's firefight with Naga insurgents alongside Myanmar border Skip to main content

Market crashes on Army's firefight with Naga insurgents alongside Myanmar border

The prevailing weak sentiment in the domestic equity market took a further hit on Wednesday after reports that Indian Army conducted a surgical strike alongside Indo-Myanmar border.

Reacting to the news, investors hit the panic button.

Domestic market extended its losing streak to the seventh straight session with BSESensex cracking 440 points and Nifty50 closing below 9,740 on Wednesday.
Sensex ended the day at nearly a 3-month low of 31,159.81, down 439.95 points or 1.39 per cent while the 50-share pack closed at 9,735.75, down 1.38 per cent or 136 points, hitting its one and a half month low level.

Shares of Adani Ports (down 4.52 per cent), Sun Pharma (down 3.03 per cent), SBI (down 2.99 per cent), Reliance (down 2.62 per cent) and ICICI Bank (down 2.41 per cent) were the top losers on BSE.
Broader markets extended losses and ended the session at 5-week low each. BSE Midcap plunged to 15,191.97 after shedding 308 points or 2 per cent with shares of Divi's Laboratories, PNB Housing Finance, Wockhardt Pharma, JSW Energy and Bharat Forge losing up to 11 per cent in trade.

Barring Nifty IT (down 0.04 per cent), all sectoral indices cracked over 1 per cent with Nifty PSU Bank index being the top sectoral loser.

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