Extending opening losses, the Indian benchmark ended sharply lower on Friday amid growing concerns over the impact of U.S. tariffs on Indian exports. The BSE Sensex closed 765.47, or 0.95%, lower at 79,857.79, while the NSE Nifty slumped 232.85 points, or 0.95%, to 24,363.30, hitting their 3-month low levels.
The broader market was worst hit, with the Nifty Midcap100 and the Nifty Smallcap100 indices falling 1.64% and 1.5%, respectively.
The sharp sell-off led to a massive erosion of ₹5.5 lakh crore in investor wealth, indicating heightened volatility and broad-based weakness across sectors. The total market capitalisation of BSE-listed companies declined to ₹440.57 lakh crore from ₹446.27 lakh crore at the end of trade yesterday.
Foreign institutional investors have turned aggressive sellers, offloading ₹15,950 crore worth of stocks throughout August as they flee from India’s expensive valuations amid weak fundamentals.
