Stock markets crash nearly 3% amid global equity rout, investors lose ₹15 lakh crore in single day
The Hindu
Global markets plummet as Sensex and Nifty hit over a month's low, losing over ₹15 lakh crore in market crash.
Stock markets crashed nearly 3% on August 5 due to across-the-board selling in banking, IT, metal and oil & gas shares following a global equity rout, wiping out more than ₹15 lakh crore of investor money in a single day.
The 30-share BSE Sensex plummeted 2,222.55 points or 2.74% to settle at over a month’s low of 78,759.40, marking its worst single-day retreat since June 4, 2024. During the day, the index tanked 2,686.09 points or 3.31% to 78,295.86.
The NSE Nifty slumped 662.10 points or 2.68% to settle at more than a month’s low of 24,055.60. During the day, it tumbled 824 points or 3.33% to 23,893.70. Nifty also saw its worst single-day fall since June 4, 2024, when markets crashed more than 5% due to general election results.
Sensex and Nifty had declined more than 1% in the previous session on August 2. In two sessions to August 5, the key indices have corrected around 4%.
Investors lost more than ₹15 lakh crore in the market crash as the total valuation of BSE-listed companies dropped to ₹441.84 lakh crore on August 5. Investors lost ₹4.46 lakh crore on August 2, taking the total losses in two days to more than ₹19 lakh crore.
In the broader market, the BSE smallcap gauge dropped 4.21% and midcap index plummeted 3.60%.
An over 12% plunge in Japan’s Nikkei and geopolitical tensions in the Middle East dented market sentiment, analysts said.
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