
Historical stock market crashes of India
The Hindu
Sensex and Nifty 50 tumble in line with global peers due to fears of trade war, historical market crashes.
Much in sync with their global peers, the Sensex and the Nifty 50, tumbled on Monday (April 7,2025) as concerns over a potential global trade war spooked investor confidence.
Monday’s (April 7, 2025) events reignited fear of Black Monday 2.0. The predecessor was the first contemporary global financial crisis that sprung in the autumn of 1987.
Indian indices BSE Sensex and Nifty50 tumbled as fears gripped about the potential repercussions of U.S. President Donald Trump’s ‘Liberation Day’ reciprocal tariffs. BSE Sensex shed 2,226.79 points to close 2.95% lower at 73,137.90, while the Nifty50 closed 3.24% lower at 22,161.60 after having lost 742.85 points at close. Asian markets plunged with Japan’s Nikkei falling to a one-and-half year low. Europe’s Stoxx 600 was 6% lower shortly after the opening bell, with all sectors and major bourses suffering significant losses.
We look back at the major stock market declines in India’s investing history:
Harshad Mehta, the “Big Bull” of Dalal Street as he was oft referred to, misused the banking system to generate fake receipts, through which he raised funds from other banks to trade in stock markets. He used these funds to manipulate stock prices.
The day when the scam was unearthed on April 29, 1992, the Sensex slipped about 13% after losing 570 points. According to estimates referred to in online stockbroking platform 5Paisa’s online blog, Mehta and his associates siphoned off around ₹4,000 crore from the banking system (more than ₹24,000 crore in today’s wealth). The following stock market crash wiped out wealth worth ₹1 lakh crore.
The aftermath lingered for nearly two years before markets found their footing again.

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