The stock market witnessed a sharp decline on the first trading day of the week, Monday, March 23. Major benchmark indices, the BSE Sensex and NSE Nifty 50, opened trading in the red.

The stock market has fallen sharply...

Stock Market Today: The Indian stock market witnessed a sharp decline on the first trading day of the week, Monday, March 23. Major benchmark indices, the BSE Sensex and NSE Nifty 50, opened in the red.

The 30-share BSE Sensex index opened with a decline of 800.38 points, or 1.07 percent. The Sensex began the day at 73,732.58. The NSE Nifty 50 also had a negative start. The Nifty 50 slipped 290.15 points, or 1.26 percent, to open at 22,824.35.

Sensex slips 1800 points.

At around 12:50 pm, the Sensex was trading at 72,686, down 1,846 points. Meanwhile, the Nifty 50 had lost 600 points and was trading at 22,513. Let's find out what was behind this significant decline.

The stock market crashed due to these reasons.

Crude oil prices are on fire

Crude oil prices remain elevated due to ongoing tensions in the Middle East. Prices rose again today. According to the latest prices, Brent crude oil is still trading above $110 per barrel. Today, prices even reached $112.

Rising prices directly impact oil-importing countries like India, raising fears of inflation in the country. This has also been a reason for the market decline.  

Foreign investors are staying away from the market

Foreign portfolio investors (FPIs) continue to withdraw money from the Indian stock market. So far in March, there hasn't been a single day when they have made net purchases.

In total, they have withdrawn around Rs 90,152 crore from the market till March 20, which shows the continuous selling pressure.

India VIX index jumps

The India VIX index saw a surge today. The index jumped nearly 10 percent to reach 25.03. A rise in the India VIX is considered a sign of increasing market anxiety. This means that investor confidence in the Indian market is shaken.

Signals from global markets

The Iran-Israel conflict is worsening global market sentiment. Asian markets have seen declines of up to 3 percent, and Indian markets have also slipped.

How was the market on Friday?

The Indian stock market witnessed a bullish trading session on Friday, March 20. Major benchmark indices, the BSE Sensex and NSE Nifty 50, ended the day trading in the green.

The Sensex rose 325.72 points, or 0.44 percent, to 74,532.96, while the NSE Nifty 50 jumped 112.35 points, or 0.49 percent, to close at 23,114.50.