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Stock market crash News
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Biggest Stock Market Crashes In India History: BSE Sensex and Nifty50, the Indian equity benchmark indices, crashed amid concerns of a global trade war and growing recession fears in the United States on Monday. The combined market capitalisation of companies listed on the BSE saw a reduction of Rs 19.4 lakh crore, bringing the total value to Rs 383.95 lakh crore. Notably, 'Black Monday' rattles Dalal Street today, triggering a sharp sell-off in Sensex and Nifty. Let's have a quick look on the biggest stock market crashes in the history of India.
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All the 19 sectors on BSE traded in red led by heavy selling in finance and banking stocks.
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However investors' sentiments remained subdued duet to news of RBI governor Urjit Patel`s sudden resignation.
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Sensex and Nifty both opened nearly 1 percent down.
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Led by the sharp fall in equities, the market capitalisation of BSE-listed companies slumped Rs 2,52,478.89 crore to Rs 1,37,90,774.75 at today's closing.
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Led by the sharp fall in equities, the market capitalisation of BSE-listed companies slumped Rs 2,28,329.72 crore to Rs 1,39,86,824.95 at today's closing.
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Stock exchanges were closed on Thursday on account of "Dussehra".
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Sensex hit a low of 34,202.22, before finishing 792.17 points, or 2.25 percent down at 34,376.99 today.
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So far, Sensex has touched an intra-day high of 36,602.85 points and a low of 35,973.23.
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Market experts said that rupee depreciation is a big concern for market sentiment.
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The BSE Sensex cracked below the 34,000-mark by plunging about 1,275 points or 3.6 percent in opening trade yesterday.
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Extending losses for the sixth straight session, the BSE benchmark Sensex tanked 1200 points.
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Investors also seemed cautious ahead of the RBI policy meet as they feel that repo rate might be increased amid inflation concerns.
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The Indian stock market came under fresh bout of pressures mainly due to geopolitical developments.
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The plunge in Global Markets is just a beginning towards Global Recession
Reserve Bank of India Governor Raghuram Rajan said he was ready to deploy foreign exchange reserves to curb volatility in the currency as turmoil in global markets sent domestic shares down more than 4 percent and the rupee to its lowest since late 2013.
In the worst-ever carnage in stock market, benchmark Sensex Monday crashed by 1,624.51 points and nearly Rs 7 lakh crore got wiped out from the investors' wealth as rout in Chinese stocks triggered a global sell-off.
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