Market participants said sentiment was further undermined by a shift towards safe-haven assets and persistent foreign fund outflows. (AI image)

It’s a bloodbath on Dalal Street! Indian stock market indices, Nifty50 and BSE Sensex, have crashed over 2% this week, leading to investors losing over Rs 16 lakh crore. Even as US President Donald Trump’s tariff threats on the EU and ongoing geopolitical uncertainties frayed global market nerves at the start of the week, Indian equities did not recover once the tensions eased.Indian stock markets witnessed sharp volatility this week, and ended significantly lower. The week started with heavy selling, dragging Nifty close to 25,000 and Sensex below 81,500, followed by a brief mid-week rebound where Nifty recovered to around 25,290 and Sensex moved above 82,300. However, the recovery was short-lived, and selling pressure returned, pushing Nifty back near 25,050 and Sensex to around 81,540 by the end of the week. On a weekly basis, the Sensex declined 2,032.65 points, or 2.43 per cent, while the Nifty shed 645.7 points, or 2.51 per cent.Reflecting the sharp correction, the market capitalisation of BSE-listed companies dropped by Rs 6,95,963.98 crore on Friday to Rs 4,51,56,045.07 crore, or $4.93 trillion. Over the course of the week, total market value eroded by Rs 16,28,561.85 crore. Equity benchmarks Sensex and Nifty extended their slide on Friday, closing around 1% lower as broad-based selling pressure intensified alongside the rupee sinking to an all-time low against the US dollar. For the first time, the rupee depreciated to a level of 92 per dollar intra-day, before showing a marginal recovery to close at 91.88.BSE Sensex dropped 769.67 points, or 0.94 per cent, to finish at 81,537.70. Market breadth remained weak on the BSE, with 2,989 stocks ending in the red, 1,229 advancing and 143 closing unchanged.The NSE Nifty also ended sharply lower, falling 241.25 points, or 0.95 per cent, to settle at 25,048.65. Markets slipped sharply despite a firm start, as steep declines in several heavyweight stocks, including shares of the Adani Group, amplified selling pressure through the session. Within the Sensex pack, stocks such as Adani Ports, Eternal, IndiGo, Axis Bank, Bajaj Finserv, Power Grid, Bharat Electronics, State Bank of India, Maruti Suzuki India, Bajaj Finance, NTPC, Trent, Larsen & Toubro and Reliance Industries ended as the major drags.

Why are stock markets crashing?

Muted quarterly performances from index heavyweights such as ICICI Bank and HCL Technologies dampened market mood, strengthening concerns that a strong turnaround in earnings remains distant. At the same time, rising crude oil prices and a sharp slide in the rupee, which slipped to a new record low despite intervention by the Reserve Bank of India, intensified macroeconomic worries related to inflationary pressures and the trade gap, said Gaurav Garg of the Lemonn Markets Desk.Market participants said sentiment was further undermined by a shift towards safe-haven assets and persistent foreign fund outflows, with the absence of any strong domestic cues adding to the unease.Apart from this, one of the other cited factors for Indian stock markets lagging compared to global peers over the last year has been the absence of any major visible players in the field of artificial intelligence. India has remained on the sidelines of the powerful AI-driven rally that has shaped global equity markets in 2025, missing out on gains seen across several major economies. On the other hand AI winners like the US, China, Taiwan and South Korea gained substantially.

What are experts saying?

Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers says that the decline is driven by persistent FII outflows, weak Q3 earnings trends—especially in IT and consumption sectors—continued rupee weakness, and lingering global trade-related uncertainties, which collectively outweighed intermittent positive global cues and kept sentiment firmly risk-averse.Thomas V Abraham, Research Analyst, Mirae Asset ShareKhan also said that markets faced selling pressure fueled by ongoing FII outflows and profit-taking before an extended weekend. “Market participants adopted a risk-averse posture due to geopolitical risks stemming from stalled US trade talks and intensifying US-Europe frictions, with overseas funds’ persistent selling magnifying the broader downturn,” he told TOI.“Adani group stocks represent roughly 2.93% of the Nifty 50’s total weight. Their substantial 8-13% declines today magnified the index’s roughly 1% retreat, outpacing positive moves in other areas during the session’s pervasive sell-off,” he said.According to a Reuters report, Adani group stocks shed $12.5 billion in market capitalisation after the US SEC sought court nod to issue summons.Vinod Nair, Head of Research, Geojit Investments Limited is of the view that the market direction in the coming week is likely to be driven by global macroeconomic signals and domestic fiscal expectations. “Investors will closely track guidance from the Fed on the trajectory of interest rate cuts, while positioning may be influenced by anticipation surrounding the Union Budget, particularly any measures aimed at easing external trade pressures and supporting capital flows,” he says. “With the Q3 earnings season still underway, stock-specific movements are expected to remain prominent. Overall sentiment is likely to stay cautious, shaped by global developments, currency trends, and earnings outcomes, with selective opportunities emerging in segments supported by resilient domestic demand,” he added.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

NEW DELHI: Former India batter Manoj Tiwary has reignited the debate around Virat Kohli’s Test retirement with a sensational claim, insisting the former India captain was “forced” into stepping away from the longest format rather than walking away by choice.Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!Kohli’s decision to retire from Tests continues to dominate cricketing discourse, largely because his red-ball career defined an era for India. With contemporaries like Joe Root and Steve Smith still piling up Test hundreds, the void left by Kohli remains a constant talking point.

Speaking to InsideSport, Tiwary strongly disagreed with Sanjay Manjrekar’s assertion that Kohli left the “hardest format” to continue in the “easiest” one. “I don’t agree with him. Usko majboor kiya gaya tha,” Tiwary said. “An atmosphere was created as such that he had to say goodbye to Test cricket. He is not someone who would just decide on his own to leave. Yes, the decision came from his mouth, but everyone knows what happened behind the scenes.”Tiwary added that, given the context, it was unfair to accuse Kohli of choosing formats merely to pad his numbers. “After knowing everything, how can you say he left the hardest format to play the easiest one just for runs? I don’t agree with him,” he reiterated.

While the Test debate rages on, Kohli’s bat continues to do the talking in ODIs. Despite India failing to seal the ODI series against New Zealand, Kohli produced a valiant century — a lone-warrior effort that kept India in the contest and once again underlined his enduring class.Kohli smashed a 108-ball 124, laced with 10 fours and three sixes in the third ODI against the Kiwis. The knock marked Kohli’s 85th international century and his 54th ODI hundred, extending his own record. It was also his seventh ODI ton against New Zealand, the most by any batter, further reinforcing that while his Test chapter may be closed, Kohli’s impact on the game is far from over.

Pakistan and Bangladesh cricket team (Agency Image)

Former Pakistan captain Rashid Latif has called on the Pakistan Cricket Board (PCB) to take a hard stance and boycott the upcoming Men’s T20 World Cup, urging it to stand shoulder to shoulder with Bangladesh amid the ongoing scheduling and security dispute. The Bangladesh Cricket Board (BCB) is facing the threat of being excluded from the 20-team tournament if it refuses to travel to India, citing security concerns. On Wednesday, the ICC made its position clear, stating that the original schedule would remain unchanged and that Bangladesh’s request to relocate its matches to Sri Lanka would not be entertained. The BCB has been given a 24-hour window to consult with its government and confirm whether the team will participate.

With tensions simmering between the ICC and the BCB, Latif said this was the right moment for Pakistan to challenge what he described as the prevailing cricketing power structure by withdrawing from the tournament. Recent reports in Pakistani media suggest the PCB has already expressed solidarity with Bangladesh, with the board’s leadership even pausing the national team’s World Cup preparations while awaiting clarity on the situation. “If Pakistan and India don’t happen, 50 per cent of your World Cup is gone. This is a great opportunity to challenge the existing cricket order,” Latif said on the YouTube channel CaughtBehindShow. “Pakistan should say they stand with Bangladesh and refuse to play the T20 World Cup. This is the time to take a stand. You need a strong heart to do it,” he added. Latif also took aim at the ICC’s handling of the issue, questioning its refusal to consider Bangladesh’s request to move matches to Sri Lanka. He pointed out that similar adjustments had been made in the past when India and Pakistan declined to tour each other for global events. “It doesn’t feel like a good decision. Today, the ICC says there is no danger to Bangladeshi players in India. No agency in the world can say there is no danger — how can the ICC say that?” Latif said. “Even in the most secure places, no one can give such a guarantee. Hopefully, nothing happens to any team.” He stressed that Pakistan holds significant leverage in the current scenario and should use it decisively. “The trump card is still with Pakistan. Bangladesh’s stance is right. Pakistan won’t get a better opportunity than this. Pakistan not playing would be like stopping the World Cup. Pakistan is the key,” Latif said. “Yes, Pakistan could suffer in the future. There could be sanctions if Pakistan refuses to play ICC events. But there is no use of just words — now is the time to show who you support.” The Men’s T20 World Cup is scheduled to be held in India and Sri Lanka from February 7 to March 8, with matches spread across eight venues. Bangladesh have been placed in Group C alongside England, Nepal, Italy and the West Indies. Pakistan, meanwhile, are drawn in Group A with India, Namibia, the Netherlands and the USA.

NEW DELHI: The Bangladesh Cricket Board (BCB) on Thursday all but confirmed its non-participation in the upcoming T20 World Cup as it stood by its decision not to travel to India for the tournament.“We want to play the World Cup, but we won’t play in India,” BCB president Aminul Islam Bulbul said. He also questioned the conduct of the ICC Board meeting held earlier this week. “We will keep fighting. There were some shocking calls in the ICC Board Meeting. The Mustafizur issue is not an isolated single issue. They (India) were the sole decision makers in that issue,” he added.In a strong statement, Islam further said, “ICC had denied us our request to shift our matches away from India. We are not sure about the status of world cricket. Its popularity is going down. They have locked away 200 million people. Cricket is going to the Olympics, but if a country like us is not going there, it is ICC’s failure.”The BCB’s decision comes a day after ICC on Wednesday rejected the request from the Bangladesh Cricket Board (BCB) to shift its team’s T20 World Cup fixtures to Sri Lanka, saying the matches will proceed as scheduled since there was no credible threat to the safety of Bangladesh players, officials or fans at any of the tournament venues in India.The decision was taken at an ICC Board meeting held via video conference, which was convened to discuss the situation after the BCB raised concerns and sought a change in venues.The ICC gave BCB one more day to reflect and take a final position.The crisis was triggered by the removal of Bangladesh pacer Mustafizur Rahman from Kolkata Knight Riders’ roster for this year’s Indian Premier League on BCCI’s instructions for unspecified “developments all around”.Citing security concerns and national pride, the BCB responded by announcing its national team won’t travel to India for its T20 World Cup group stage games in Kolkata and Mumbai.BCB wanted to play each of the four group stage matches in Sri Lanka, where the marquee India-Pakistan clash will also be held as per the mutually agreed arrangement for ICC events until 2027.In their last meeting with ICC officials in Dhaka, the BCB had proposed swapping positions with Ireland in Group B, which features tournament co-hosts Sri Lanka, Australia, Oman and Zimbabwe. Such a move would allow Bangladesh to remain in Sri Lanka for their group engagements.

Indian silver exchange-traded funds (ETFs) witnessed a sharp sell-off on Thursday, plunging up to 20% in early trade as investors rushed to exit amid heightened volatility in precious metals. The steep fall wiped out the unusually high premium at which these ETFs were trading compared to international prices and physical silver markets.Nippon India Silver ETF, ICICI Prudential Silver ETF and Kotak Silver ETF fell between 19% and 20% during morning trade. As per ET, the funds slipped below their indicative net asset values (iNAVs), turning what was earlier a steep premium into a discount. The sell-off was largely limited to ETFs, highlighting the risks associated with sharp price dislocations in these products.In contrast, silver prices in other markets saw relatively modest declines. Global spot silver was trading around $92.27 an ounce, just days after touching a record high of $95.87 earlier this week.On the domestic front, MCX March silver futures slipped about 2% in morning trade, far less severe than the ETF correction.Market experts pointed to extreme volatility as a key factor behind the move. Manoj Kumar Jain of Prithvi Finmart said investors should avoid fresh positions in precious metals for now. “We are experiencing very high price volatility in both precious metals,” Jain was quoted as saying by ET, advising traders to wait for stability.The correction came as global risk appetite improved and the US dollar strengthened, reducing demand for safe-haven assets. Sentiment also eased after US President Donald Trump ruled out using military force over Greenland and signalled restraint on tariffs against European nations.Despite the turbulence, some analysts remain constructive on silver’s broader outlook. Ponmudi R, CEO of Enrich Money, said COMEX silver remains firm near $92–$93, supported by strong industrial demand and tight global supply. However, he cautioned that near-term swings could remain sharp, especially in ETF prices, given their tendency to trade at premiums or discounts during volatile phases.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)