Equity investors suffered heavy losses over the past two trading sessions, as rising tensions in the Middle East and soaring global crude oil prices wiped out Rs 8.35 lakh crore from their portfolios.The NSE benchmark Nifty slipped 169.6 points, or 0.68%, to close at 24,718.The benchmark BSESensex also continued its downward streak for the second straight day on Friday, closing 573.38 points or 0.70% lower at 81,118.60. Earlier in the session, the index had plunged as much as 1,337.39 points to hit an intraday low of 80,354.59. Over the two days, the Sensex has shed 1,396.54 points or 1.69%.The fallout from the sell-off was visible in investor wealth, with the combined market capitalisation of BSE-listed companies shrinking by Rs 8,35,799.85 crore to Rs 4,47,21,343.34 crore or $5.19 trillion.Brent crude, global oil benchmark jumped 7.61% to $74.64 a barrel.“Indian equities fell sharply, reacting to weak global cues and a surge in crude oil prices after Israel launched military strikes on Iran earlier today,” said Siddhartha Khemka, head of research, wealth management at Motilal Oswal Financial Services Ltd. Khemka added that the steep rise in crude prices dragged down Rupee and triggered selling pressure in OMCs, paints, tyres and other lubricant stocks.“Indian equity markets endured a sharp sell-off on Friday, with the Nifty-50 and Sensex both off their intra-day lows but still closing with significant losses,” added Satish Chandra Aluri, analyst at Lemonn markets desk told PTI.Among Sensex’s 30 stock pack the worst-performing constituents were Adani Ports, ITC, State Bank of India, IndusInd Bank, HDFC Bank, Titan, Kotak Mahindra Bank and UltraTech Cement.Meanwhile Tech Mahindra, Tata Consultancy Services, Maruti Suzuki and Sun Pharma managed to end in green.Sectorally, the BSE services index was hit hardest, dropping 2.06%, followed by the bankex (1.01%), FMCG (0.94%), financial services (0.85%), metals (0.81%), and power (0.75%). Healthcare and real estate were the only sectors to register gains.Overall, Dalal Street ended in red, with 2,469 stocks tumbling down, 1,516 advancing and 137 ending flat on the BSE.
