As Sensex falls on Monday, a look at the five biggest declines on the bourses
First Published: 5th August, 2024 13:00 IST
The market opened at 76,285.78 and saw a dramatic drop of 6,051.35 points or a 7.93 per cent decline, before closing at 72,079.05.
The Sensex, India’s benchmark stock index, opened with a sharp decline on Monday. The index has seen significant declines on several occasions, often in response to global and domestic economic events.
The five biggest intraday falls in the history of the Sensex include the day of election results on June 4 2024 and the other 4 falls occurred during the pandemic.
On June 4, 2024, the most recent and one of the steepest falls occurred when the Sensex plunged to an intraday low of 70,234.43 points. The market opened at 76,285.78 and saw a dramatic drop of 6,051.35 points or a 7.93 per cent decline, before closing at 72,079.05. This sharp decline was driven by the uncertainty created after the election outcome when none of the Indian political parties got the majority in the parliamentary elections.
On March 23, 2020, the Sensex plummeted to an intraday low of 25,880.83 points, reflecting the panic caused by the COVID-19 pandemic. The market opened at 27,608.80, experienced a significant drop of 1,727.97 points or 6.23 per cent to intraday low, and closed slightly higher at 25,981.24. This period marked one of the most volatile times in recent market history.
Just a week before it, on March 16, 2020, the Sensex experienced another major drop, falling to an intraday low of 31,276.30 points. The index opened at 33,103.24 and witnessed a decline of 1,826.94 points or 5.51 per cent as the day low, closing at 31,390.07. The ongoing uncertainty due to the pandemic and its economic impact caused severe market reactions.
On March 13, 2020, the Sensex faced a significant intraday fall, reaching a low of 29,388.97 points. The market had opened at 31,214.13 and plunged by 1,825.16 points or a decline of 5.84 per cent, but managed to recover somewhat by the close, ending the day at 34,103.48. The day’s volatility was marked by global market sell-offs and fears of a global recession.
A day prior, on March 12, 2020, the Sensex dropped to an intraday low of 32,493.10 points. The index opened at 34,472.50 and saw a fall of 1,979.40 points or 5.74 per cent before closing at 32,778.14. This decline was part of a series of losses as investors reacted to the rapid spread of COVID-19 and its economic repercussions. (ANI)
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