Stock market crash: Reliance Power, GRSE fall over 7% as investors lose over ₹8 lakh crore amid market fall

NIFTY50 and SENSEX trade lower for the second consecutive day on April 25. At 11:30 AM, SENSEX is down over 1,150 points, or 1.46%, at 78,639, while the NIFTY50 index declined 393 points, or 1.62%, to 23,852. Benchmark indices started the May F&O series on a weak note amid profit booking and geopolitical tensions.

Investors turned cautious amid rising geopolitical tensions between Indian and Pakistan after the Pahalgam terror attack on April 22. Besides this, last week's record rally in the market may have led to stretched valuations. Hence, leading to some profit booking by investors.

The volatility index, or India VIX, rose over 6% to 17.2. Among the key sectoral indices, NIFTY Media (-3.0%) and NIFTY PSU Bank (-2.7%) were the top losers, while NIFTY IT (+0.1%) was the sole gainer.

A sharp sell-off was also witnessed in midcap and smallcap stocks. At 11:30 AM, NIFTY Midcap100 declined 3.2% to 53,209, while NIFTY Smallcap100 is down over 3.6% at 16,340.

Top five NIFTY Midcap100 losers:

Among NIFTY Midcap100 stocks, Motilal Oswal Financial Services declined over 7% ahead of its Q4 results announcement. Meanwhile, SBI Card, ACC and Waaree Energies dropped over 5% each amid profit booking and reacting to quarterly results announcement.

Top five NIFTY Smallcap100 losers:

NIFTY Smallcap 100 index trades over 3% lower today. Garden Reach Shipbuilders along with other defense stocks declined amid esclating geopolitical tensions along the Line of Control. Other smallcap stocks like Reliance Power declined over 7% owing to profit booking, while Cyient Ltd shares fall over 7% after weak quarterly results.