Indian stock market crash erodes ₹15L crore in a day
23 Mar 2026

The Indian stock market witnessed a major crash today, with investor wealth eroding by nearly ₹15 lakh crore in just one session.

The fall was broad-based and is attributed to rising geopolitical risks, surging crude oil prices, and a spike in market volatility.

The Sensex plunged 1,837 points to 72,696 while the Nifty fell 602 points to 22,513.

Nifty Bank, midcap index fall sharply
Market downturn

The Nifty Bank index fell nearly 1,989 points while the Midcap index dropped over 2,100 points. This highlights the extent of the market correction.

The advance-decline ratio stood at a sharp 1:14, indicating broad-based selling pressure across sectors.

The Indian rupee (INR) also hit a record closing low of ₹93.98 per US dollar amid these market conditions.

Bond markets reflect market stress
Economic indicators

The bond markets also reflected the market stress with the 10-year yield rising above 6.80%, its highest in over a year.

Gold and silver also witnessed a reversal of their 2026 gains, plunging by 7-11% amid heightened volatility.

These economic indicators further highlight the impact of the stock market crash on various sectors.

Oil marketing companies fall sharply
Sector impact

Oil marketing companies such as Hindustan Petroleum Corporation, Bharat Petroleum Corporation, and Indian Oil Corporation fell by 4-8% due to rising crude costs and supply concerns.

Realty stocks also came under pressure on rate hike fears with Lodha witnessing a sharp slide.

However, select IT stocks managed to close in the green due to a weaker rupee.