Indian stock market investors lost over ₹5 lakh crore in 15 minutes on Thursday as the market opened in red, seeing a sharp plunge following the US tariff announcement. The total market capitalisation (m-cap) of BSE-listed companies fell by around ₹5.5 lakh crore to ₹453.3 lakh crore in the morning trade, The Economic Times reported.All the sectors in the Indian benchmark indices remained in red as oil stocks were worst hit.
Oil stocks were one of the worst hit in the early trade as Indian Oil Corporation, BPCL, Mahanagar Gas, ONGC and Gujarat Gas traded in red.Some of the worst-hit Sensex stocks include Reliance Industries, Tata Motors, Mahindra & Mahindra, Bharti Airtel, Titan and State Bank of India. However, Hindustan Unilever, Eternal and Powergrid were trading in green. Jio Financial Services share price climbed more than 3.5% during Thursday's trading session despite a sluggish market following Trump's warning of a 25% tariff and penalties.
Jio Financial Services shares saw an upward trend after the announcement that the company's board has sanctioned a strategy to raise as much as ₹15,825 crore through the preferential issuance of 50 crore warrants.Recently, Jio Financial Services has announced a net profit of ₹325 crore for Q1FY26, marking a 4% increase from ₹312.63 crore in the same quarter last year. Revenue increased by 46.6% year-on-year, reaching ₹612.46 crore compared to ₹417.82 crore. In addition, Jio BlackRock — the joint venture formed equally with BlackRock — has obtained SEBI approval to introduce four passive funds. These funds will include index funds that track the Nifty Midcap 150, Nifty Next 50, Nifty Smallcap 250, and the Nifty 8–13 Year G-Sec Index.
With this announcement, India now faces one of the steepest US tariff regimes. In comparison, Vietnam faces 20% tariffs, Indonesia 19%, and Japan 15%. Brazil, meanwhile, received temporary relief from a proposed 50% tariff. Individual stock movements are expected to remain prominent as companies continue to announce their financial results. Foreign portfolio investors sold shares worth Rs 850 crore net on Wednesday, whilst domestic institutional investors made net purchases of Rs. 1,829 crore.