Stock market crash today: Continuing the down trend, Nifty50 and BSE Sensex, crashed in opening trade on Thursday with the US-Iran war showing no signs of stopping and oil prices climbing again. While Nifty50 went below 23,600, BSE Sensex was down over 900 points. At 9:16 AM, Nifty50 was trading at 23,592.00, down 275 points or 1.15%. BSE Sensex was at 75,950.65, down 913 points or 1.19%.Market analysts are of the view that indices are likely to remain volatile as investors track developments in the West Asia conflict, fluctuations in crude oil prices and sustained overseas selling.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “External headwinds have pushed the market into a weak zone. With the war continuing to rage with no signs of let up and Brent crude again bouncing back to $100 levels, the weakness is likely to persist. Even though DIIs are continuously buying in the market, DII buying is not helping the market to recover since FIIs are sustained sellers and show no signs of reversing their strategy in this uncertain global environment.” “For investors, markets can be very frustrating during certain times. This is one such time. The lesson from market history is that attitude and temperament are important in these trying times. Experiences from previous geopolitical conflicts tell us that markets bounce back smartly once the conflicts get over. Therefore, investors should remain invested and continue with systematic investment plans. Long term investors can use market weakness to slowly accumulate high quality bluechips across sectors. This is also the right time to churn portfolios in favour of high quality stocks.”Foreign portfolio investors continued to offload domestic equities, net selling shares worth Rs 6,267 crore during Wednesday’s session. Domestic institutional investors partly offset the pressure, emerging as net buyers to the tune of Rs 4,966 crore.US stocks ended lower on Wednesday as investors looked past a relatively mild inflation reading and instead focused on intensifying hostilities and the wider implications of the US-Israeli war on Iran.Asian stocks declined on Thursday, extending what has been a volatile week in global markets. A renewed rally in oil prices and increasing stress in the private credit market added to concerns among investors.Oil prices climbed in Asian trading even after authorities announced large releases of crude from strategic reserves aimed at easing prices following the Iran conflict.Meanwhile, gold prices edged lower on Thursday as a stronger US dollar weighed on the metal. (Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
