Oct 01 2023

Market Highlights : Sensex Crashes 1,747 Points, Biggest Sensex Drop in a Year on Fed, Ukraine Fears.

Market Highlights : Sensex Crashes 1,747 Points, Biggest Sensex Drop in a Year on Fed, Ukraine Fears.

MUMBAI: India's benchmark index weakened on Friday, hitting its worst weekly decline in eight weeks due to losses in economic and technology stocks amid concerns over inflation and tightening of the US Federal Reserve policy. These concerns outweighed the positive aspects of the strong results of fast-moving consumer goods (FMCG) giant Hindustan Unilever. On Monday, global and domestic factors combined to pull the Sensex down nearly 1,750 points, or 3%, the biggest single-session slide in nearly a year. The Sensex closed at 56,406 points, while on the NSE, the Nifty fell 532 points, or 3.1%, to close at 16,843.

The Financial Times reported a double-digit drop in the stock market in five minutes as a crash, while Jaydev and others. The stock market crash in India is described as "a decline of more than 10% in NIFTY over a period of 20 days" or "a difference of more than 10% between the highs of the day and the lows on the second trading day" or "the Nifty fell by more than 9% over a period of 5 days". According to a later interpretation, the Nifty experienced 15 crashes between 2000 and 2008, many of which occurred in January, May and June 2008.

The Sensex and Nifty have lost 3.5% each for the last four consecutive sessions. This is the biggest weekly loss since the week ended November 26.

Corporate earnings for the three months ending in December also failed to provide any reason for happiness, experts say. Technology stocks have had the worst losses in the last four sessions.

The S&P BSE Sensex fell by 1,747.08 points (3.00 per cent) to close at 56,405.84 while the Nifty 50 fell by 531.95 points (3.06 per cent) to 16,842.80. Earlier in the day, both the topline indices had opened below 2 per cent and intraday deals had fallen more than 3.2 per cent and the 30-share BSE benchmark had touched a low of 56,295.70 and the broader Nifty had reached 16,809.65. On the Sensex pack, Tata Steel suffered the heaviest losses during the day, followed by Housing Development Finance Corporation (HDFC), State Bank of India (SBI), ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Maruti Suzuki India, Larsen & Toubro (L&T). Axis Bank and Bharti Airtel. Tata Consultancy Services (TCS) was the only gainer of the day, rising more than 1%.

Stock market crashes in India :-

  • 1. The crash of 1865
  • 2. Crash of 1982
  • 3. Crash of 1991
  • 4. Crash of 1992
  • 5. UPA 1 election crash of 2004
  • 6. Crash of 2006
  • 7. Crashes of 2007
  • 8. Crashes of 2008
  • 9. Crash of 2009
  • 10. Crashes 2015
  • 11. Crashes of 2016
  • 12. Crashes of 2018
  • 13. Crashes of 2020

Globally, the US Federal Reserve has warned investors about rising interest rates, rising US bond yields, high inflation and rising crude oil prices. High yields and rising interest rates make risky assets less attractive to emerging markets, leaving them out of the reach of foreign investors. From a technical point of view, the Nifty may find some relief after four consecutive days of losses. Nagraj Shetty, Technical Research Analyst, HDFC Securities, said, "The Nifty has support near 17,500-17,600 and the market could bounce back from this level. If the Nifty stays above 17,600 in the coming session, it is likely to return to 18,100-18,200." Analyst Nagraj Shetty said. . The decline in the last four sessions is just a retreat of the ups and downs of recent weeks, Shetty said.


Posted by : Aniket Gaikwad

Editor/copywriter/SEO analyst at Global Market, create content on Sport, Business, Educational, International, Political, Technical, Entertainment, Lifestyle.

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