On April 30, 2023, the Indian stock market faced a dramatic downturn, with the Sensex falling by 1,000 points (1.3%) to reach an intraday low of 76,502. The Nifty 50 also saw a decline of over 300 points (1.3%), while midcap and smallcap indices experienced similar drops. Investors collectively lost approximately ₹6 lakh crore within the first half hour of trading, as the market capitalization of BSE-listed firms fell from nearly ₹469 lakh crore to ₹463 lakh crore. Several factors contributed to this selloff, including escalating tensions between the US and Iran, which have stalled potential diplomatic talks. Additionally, Brent Crude oil prices surged above $120 per barrel, raising inflation fears for India, a major oil importer. The Indian rupee also fell to a record low of 95.20 against the US dollar, further exacerbating market concerns and potentially leading to increased foreign capital outflows.