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Stock Market fell consecutively for the 5th time on Monday as Sensex crashes over 2,050 points. It’s the worst intraday crash in the past 11 months while the Nifty50 falls below 17,000 points which is a big blow for several sectors.
Regardless, this isn’t the case with only India as the entire Asian share market fell by a huge margin. This is due to which investors are planning to attend Federal Reserve Meeting. Moreover, it seems like the great liquidity figures are going to fall soon.
Reportedly, the BSE Sensex was crashed by 1,955 points which remains at 57,082, whereas the NSE Nifty was down by 596 points at 17,021. It’s the highest drop since November 26 last year.
Excluding ONGC and Cipla, all the other stocks entered into red zone while Tata Steel, Tech Mahindra, JSW Steel, Bajaj Finance, Grasim, Wipro, and Hindalco were the worst of all.
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Also, popular shares like Paytm and Zomato took the highest dip since the beginning hovering at 5.64% and 18.48% respectively.
Besides, the mid and small-cap shares took a huge dive as well ending up in negative zone. The Nifty Midcap 100 index crashed by 3.37% and the small-cap shares fell by 4.20%.
“With gap-down openings tracking weak global cues, this situation will continue in future as well,” said Head of Research, Capitalvia Global Research Ltd. Gaurav Garg.
Even the sectoral indices entered into the red zone as the metal index fell by 5.2% and the Nifty bank surged by 1.7%. Also, the Votality gauge VIX dropped by 2% which is massive since May last year.
Cover Image: Unsplash
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