Stock market crash: Investors become poorer by over ₹22 lakh crore since the beginning of US-Iran war

The NSE's NIFTY50 index has also nosedived 4.6% during the period.

The US and Israel launched military strikes on Iran on February 28, killing Ayatollah Ali Khamenei, Iran's supreme leader.

Following the military offensive, Iran has carried out a wave of attacks mainly targeting Israeli and American military bases in several Gulf countries, including the UAE, Bahrain, Kuwait, Jordan, and Saudi Arabia.

The escalation in geopolitical risks pushed crude oil prices up to around the $120 per barrel mark and drove the Indian rupee to a record low against the US dollar, amplifying concerns around inflation and external balances.

Since February 27, the 30-share BSE SENSEX has tanked 3,721.03 points or 4.57%.

The market capitalisation of BSE-listed companies dropped sharply by ₹22,40,408.82 crore to ₹4,41,10,262.45 crore (USD 4.78 trillion) during this time.

On Monday, Indian equity markets ended the session sharply lower after opening with a steep gap-down of nearly 3%, as weak global cues and the deepening conflict in the Middle East weighed heavily on investor sentiment.

The S&P BSE SENSEX tanked 1,352.74 points, or 1.71%, to settle at 77,566.16, registering its second day of decline. During the day, the benchmark crashed 2,494.35 points, or 3.16%, to 76,424.55.

The top losing sectoral indices on the BSE were Auto (down by 3.89%), Bankex (down by 3.16%), Oil & Gas (down by 3.11%), PSU (down by 2.95%) and Basic Materials (down by 2.77%), while there were no gainers on the sectoral front.

The NIFTY50 ended at 24028, down by 422.40 points, or 1.73%, after trading in a range of 23,697 and 24,078. Eight stocks advanced against 42 stocks declining on the index.

The top gainers on NIFTY50 were Wipro, up by 1.59%; Reliance Industries, up by 1.37%; Apollo Hospital, up by 0.86%; Infosys, up by 0.57%; and HCL Technologies, up by 0.41%.

On the flip side, Tata Motors Passenger Vehicles, down by 5.29%; Ultratech Cement, down by 5.08%; Maruti Suzuki, down by 4.67%; Eicher Motors, down by 4.53%; and Mahindra & Mahindra, down by 4.35%, were the top losers.