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Stock market crash: Investors lose 5 lakh crore in 15 minutes as Sensex falls 800 points. Here’s why

Stock market crash: Indian benchmark equity indices fell today (April 15) starting the week on a lower note tracking losses in Asian markets. This comes as investor sentiment remained weak after Iran’s retaliatory attack on Israel sparked fears of a wider regional conflict in the Middle East. Sensex traded 800 points or 0.86% lower at 73,468.70 while Nifty50 was at 22,330, down 190 points or 0.84%.

Stock market crash: People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters)

Market capitalisation of all listed companies on BSE declined by 5 lakh crore to 394.68 lakh crore and Nifty PSU Bank, Realty, and Media opened with declines of over 2%. Nifty Auto, Financial, Metal, Pharma, and Oil & Gas opened with losses between 1-2%.

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Iran launched a drone missile attack on Israel, less than two weeks after a suspected Israeli strike in Syria killed two Iranian generals in a consular building. This marks the first time Iran launched a direct military assault on Israel following which Tel Aviv said that it has intercepted 99% of drones and missiles launched by Tehran. Israel praised the success of its defenses and said that the Iranian launches numbered more than 300, but 99% of them were intercepted.

Markets in Asia remained cautious as well as MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7% while Japan’s Nikkei slid more than 1%. Australia’s S&P/ASX 200 index shed 0.6% and Hong Kong’s Hang Seng Index fell 0.8%.

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