Stock Market Crash Highlights: Nifty, Sensex Hit 10-month Low As Global Selloff Jolts Indian Markets
The NSE Nifty 50 ended 742.85 points or 3.24% lower at 22,161.60, while the BSE Sensex closed 2,226.79 points or 2.95% down at 73,137.90.
The benchmark equity indices hit 10-month low and ended with losses on Monday, extending declines for the third straight session. This comes after the Asian markets plunged most in 14 years on Monday, following the Wall Street's decline.
The NSE Nifty 50 ended 742.85 points or 3.24% lower at 22,161.60, while the BSE Sensex closed 2,226.79 points or 2.95% down at 73,137.90.
Intraday, Nifty fell as much as 5.07% to 21,743.65 and Sensex was down 3,939.68 points to 71,425.01. Despite this decline, India managed to emerge as the second-best performing market in Asia for the day.
Global financial markets extended their selloff on Monday, extending declines for the third day since US President Donald Trump's announcement on tariffs. Asian shares fell to their lowest levels in 14 years on Monday.
The decline was led by Chinese shares amid fears over the trade war's impact on the global economy. Hong Kong’s Hang Seng led the fall, crashing nearly 13%, with most regional indices firmly in the red. The index has fallen over 20% from its March high and entered a bear market.
Nifty companies lost Rs 5.18 lakh crore in market capitalisation on Monday.
Shares of HDFC Bank Ltd., ICICI Bank Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd. and Trent Ltd. weighed on the Nifty 50 the most.
On the other hand, Hindustan Unilever Ltd. was the only gainer.
On the NSE all of the 15 sectors fell, with Nifty Metal and Nifty Realty leading the decline. Nifty Metal fell over 6% for the second day, while Nifty FMCG snapped a three-day gaining streak.
Nifty PSU Bank, Nifty Media, Nifty Bank and Nifty Pharma ended lower for the second day in row. Nifty Oil and Gas, Nifty Auto, Nifty IT ended the day in red for the third consecutive day.
On BSE, all 21 sectors fell, with BSE Realty and BSE Commodities leading the decline.
The broader markets ended lower, with the BSE MidCap ending down 3.46%, after hitting one-month low and the SmallCap closing 4.13% lower after it hit 17-month low.
The market breadth was skewed in the favour of sellers, as 3,494 stocks declined, 587 advanced and 144 remained unchanged on the BSE.
