ETV Bharat / business

Market Closing: Sensex suffers biggest crash in history, cracks 3,900 points

BSE

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Published : Mar 23, 2020, 9:22 AM IST

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Updated : Mar 23, 2020, 6:25 PM IST

18:24 March 23

Sensex down by 3,935 points

15:30 March 23

Major Sensex Falls

Major Sensex Falls

Sensex suffers biggest crash in history, cracks 3,900 points

In its worst ever crash, the BSE ensex plummetted 3,934.72 points or 13. 15 per cent to 25,981.24 on Monday after several Indian states announced lockdown following a spurt in the number of coronavirus cases.

Likewise, the NSE Nifty nosedived 1,135.20 points or 12.98 per cent to settle at 7,610.25.

In the first hour of Monday's trade, benchmark indices cracked over 10 per cent, triggering a 45-minute trading freeze as coronavirus-led lockdowns across the world stoked fears of a massive global recession.

Equities spiralled further lower after trading resumed around 11:00 hours.

Top Losers

Axis Bank was the top loser in the Sensex pack, tanking over 28 per cent, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T.

Indian benchmark indices followed the carnage in global equities as sentiments dampened further after global governments announced extensive lockdowns to curb the spread of Covid-19, trader said.

Global Market

Global stocks too roiled after nations across the world announced lockdowns in an effort to mitigate the spread of Covid-19 pandemic, spiking fears of a mammoth global recession.

The rupee plummeted 90 paise against the US dollar to 76.10 during the day.

Stock exchanges in China, Hong Kong and South Korea plunged up to 5 per cent, while those in Japan ended on a positive note. Bourses in Europe sank up to 4 per cent.

Meanwhile, Brent crude oil futures dropped 5.30 per cent to USD 25.55 per barrel. The number of global Covid-19 infections has shot past 3,00,000. Worldwide fatalities topped 14,000.

15:08 March 23

Sensex tanks 4,000 points

Sensex tanks 4,000 points

Sensex tanks 4,000 points

The BSE Sensex was trading below 26,000 mark.

12:58 March 23

Analyst on volatile Asian markets

Analyst on volatile Asian markets

Asian markets were hammered on Monday despite massive economic stimulus efforts worldwide, with investors spooked by the relentless march of the coronavirus pandemic.

The negative mood was fuelled by the failure of US lawmakers to agree on a trillion-dollar emergency package to help the reeling American economy.

Wellington nosedived 7.6 per cent as New Zealand announced a four-week lockdown to stop the spread of the coronavirus.

The Hang Seng Index in Hong Kong was down 4.4 per cent, Sydney dropped 5.6 per cent, Shanghai shed 2.3 per cent and Taiwan was off by 3.7 per cent.

Singapore tanked 7.5 per cent, Jakarta lost 3.8 per cent, and Seoul was down 5.5 per cent.

Tokyo was the exception, closing two per cent higher as a cheaper yen against the dollar boosted Japanese markets.

Nikkei heayweight SoftBank Group said it would sell up to USD 41 billion in assets to finance a stock buyback, reduce debt and increase its cash reserves, boosting its share price by more than 18 percent in the last hour of trade.

Economists and analysts are now worried about how deep the impact of the pandemic could be on the global economy, with social distancing measures and lockdowns dealing serious blows to many industries.

"The markets in Asia are all down today due to their worries about coronavirus again," said Jackson Wong, market analyst and Asset Management Director of Amber Hill Capital Limited.

11:37 March 23

BSE Sensex down by 3,500 points.

BSE Sensex down by 3,500 points.

BSE Sensex down by 3,500 points.

11:11 March 23

Sensex View

Sensex View

Sensex View

All Sensex components were trading in the red, with Axis Bank tanking up to 20 per cent, followed by ICICI Bank, IndusInd Bank, Bajaj Finance, Hero MotoCorp and M&M.

10:52 March 23

BSE Sensex

BSE Sensex

Trading resumes

Sensex extends fall as trading resumes after halt of 45 minutes.

The BSE Sensex plunged 3,182.88 points or 10.64 per cent to 26,733.08. Similarly, the NSE Nifty fell 923.95 points, or 10.56 per cent, to 7,821.50.

10:49 March 23

Investor wealth plummets over Rs 10 lakh cr in first hour of trade

Investor wealth plummeted by over Rs 10 lakh crore in the first hour of trade on Monday as the equity markets went into a tailspin and sank 10 per cent.

The market capitalisation of BSE-listed firms dropped by Rs 10,29,847.17 crore to Rs 1,05,79,296.12 crore just before the trading was halted for 45 minutes.

Markets took a heavy beating as the BSE benchmark index plunged 2,991.85 points or 10 per cent -- its lower circuit limit.

Market heavyweights RIL tumbled 11.57 per cent and TCS tanked 5.84 per cent.

10:40 March 23

Sensex down by 3,000 points

Pre-open session starts

Pre-open session starts at 10:42 am. Market will reopen at 10:57 am.

09:58 March 23

BSE Sensex

BSE Sensex

Sensex touches lower circuit, down by 10 per cent

Equity benchmark Sensex sank nearly 3,000 points to hit its lower circuit limit in morning session on Monday, triggering a 45-minute trading freeze as coronavirus-led lockdowns across the world stoked fears of a massive global recession.

The 30-share BSE Sensex plunged 2.991.85 points or 10 per cent to 26,924.11 at 10 am. Similarly, the broader NSE Nifty fell 842.45 points or 9.63 per cent to 7,903.00.

Trading halts for 45 minutes. As an automatic mechanism to freefall in the market, when an exchange plunges 10 per cent before 1 pm, trading is halted on stock exchanges for 45 minutes.

Pre-open session will start at 10:42 am and market will reopen at 10:57 am.

This is the first time when markets have touched the lower circuit twice in a single month.

09:48 March 23

Sensex view at 9:40 am

Sensex view at 9:40 am

All Sensex components were trading in the red, with Bajaj Finance tanking up to 14 per cent, followed by Axis Bank, UltraTech Cement, ICICI Bank, Maruti and M&M.

09:38 March 23

Rupee tanks 95 paise, falls below 76 level against US dollar

The Indian rupee slipped further by 95 paise to 76.15 against the US dollar in opening trade on Monday amid sharp rise in coronavirus cases in the country and heavy selling in domestic equities.

The rupee which opened on a weak note at 75.90 at the interbank forex market, lost further ground and touched a low of 76.15 against the US dollar, registering a decline of over 95 paise over its last close.

09:20 March 23

Market opening

BSE Sensex

BSE Sensex

Sensex tanks 2,700 points, Nifty sheds 685

Mumbai: Equity benchmark Sensex plummeted over 2,700 points in opening session on Monday as global stocks resumed their free fall amid coronavirus-led lockdowns across the world stoking fears of a massive recession.

After sinking over 2,718 points, the BSE barometer was trading 2,430.57 points or 8.12 per cent lower at 27,485.39. Similarly, the NSE Nifty was trading 682.35 points, or 7.80 per cent, down at 8,063.10.

During the last trading week till Friday, the Sensex plummeted 4,187.52 points or 12.27 per cent, while the Nifty sank 1,209.75 points or 12.15 per cent.

Global Market

Bourses in Shanghai, Hong Kong and Seoul plunged up to 4 per cent, while Tokyo was trading with gains.

MSCI's broadest index of Asia Pacific shares outside Japan lost by 3.8 per cent while Shanghai blue chips dropped by 2.3 per cent. But Japan's Nikkei rose by 0.8 per cent aided, likely by expectations of more aggressive asset buying by the Bank of Japan.

Meanwhile, Brent crude oil futures fell 3 per cent to USD 26.17 per barrel.

(Input from agencies)

18:24 March 23

Sensex down by 3,935 points

15:30 March 23

Major Sensex Falls

Major Sensex Falls

Sensex suffers biggest crash in history, cracks 3,900 points

In its worst ever crash, the BSE ensex plummetted 3,934.72 points or 13. 15 per cent to 25,981.24 on Monday after several Indian states announced lockdown following a spurt in the number of coronavirus cases.

Likewise, the NSE Nifty nosedived 1,135.20 points or 12.98 per cent to settle at 7,610.25.

In the first hour of Monday's trade, benchmark indices cracked over 10 per cent, triggering a 45-minute trading freeze as coronavirus-led lockdowns across the world stoked fears of a massive global recession.

Equities spiralled further lower after trading resumed around 11:00 hours.

Top Losers

Axis Bank was the top loser in the Sensex pack, tanking over 28 per cent, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T.

Indian benchmark indices followed the carnage in global equities as sentiments dampened further after global governments announced extensive lockdowns to curb the spread of Covid-19, trader said.

Global Market

Global stocks too roiled after nations across the world announced lockdowns in an effort to mitigate the spread of Covid-19 pandemic, spiking fears of a mammoth global recession.

The rupee plummeted 90 paise against the US dollar to 76.10 during the day.

Stock exchanges in China, Hong Kong and South Korea plunged up to 5 per cent, while those in Japan ended on a positive note. Bourses in Europe sank up to 4 per cent.

Meanwhile, Brent crude oil futures dropped 5.30 per cent to USD 25.55 per barrel. The number of global Covid-19 infections has shot past 3,00,000. Worldwide fatalities topped 14,000.

15:08 March 23

Sensex tanks 4,000 points

Sensex tanks 4,000 points

Sensex tanks 4,000 points

The BSE Sensex was trading below 26,000 mark.

12:58 March 23

Analyst on volatile Asian markets

Analyst on volatile Asian markets

Asian markets were hammered on Monday despite massive economic stimulus efforts worldwide, with investors spooked by the relentless march of the coronavirus pandemic.

The negative mood was fuelled by the failure of US lawmakers to agree on a trillion-dollar emergency package to help the reeling American economy.

Wellington nosedived 7.6 per cent as New Zealand announced a four-week lockdown to stop the spread of the coronavirus.

The Hang Seng Index in Hong Kong was down 4.4 per cent, Sydney dropped 5.6 per cent, Shanghai shed 2.3 per cent and Taiwan was off by 3.7 per cent.

Singapore tanked 7.5 per cent, Jakarta lost 3.8 per cent, and Seoul was down 5.5 per cent.

Tokyo was the exception, closing two per cent higher as a cheaper yen against the dollar boosted Japanese markets.

Nikkei heayweight SoftBank Group said it would sell up to USD 41 billion in assets to finance a stock buyback, reduce debt and increase its cash reserves, boosting its share price by more than 18 percent in the last hour of trade.

Economists and analysts are now worried about how deep the impact of the pandemic could be on the global economy, with social distancing measures and lockdowns dealing serious blows to many industries.

"The markets in Asia are all down today due to their worries about coronavirus again," said Jackson Wong, market analyst and Asset Management Director of Amber Hill Capital Limited.

11:37 March 23

BSE Sensex down by 3,500 points.

BSE Sensex down by 3,500 points.

BSE Sensex down by 3,500 points.

11:11 March 23

Sensex View

Sensex View

Sensex View

All Sensex components were trading in the red, with Axis Bank tanking up to 20 per cent, followed by ICICI Bank, IndusInd Bank, Bajaj Finance, Hero MotoCorp and M&M.

10:52 March 23

BSE Sensex

BSE Sensex

Trading resumes

Sensex extends fall as trading resumes after halt of 45 minutes.

The BSE Sensex plunged 3,182.88 points or 10.64 per cent to 26,733.08. Similarly, the NSE Nifty fell 923.95 points, or 10.56 per cent, to 7,821.50.

10:49 March 23

Investor wealth plummets over Rs 10 lakh cr in first hour of trade

Investor wealth plummeted by over Rs 10 lakh crore in the first hour of trade on Monday as the equity markets went into a tailspin and sank 10 per cent.

The market capitalisation of BSE-listed firms dropped by Rs 10,29,847.17 crore to Rs 1,05,79,296.12 crore just before the trading was halted for 45 minutes.

Markets took a heavy beating as the BSE benchmark index plunged 2,991.85 points or 10 per cent -- its lower circuit limit.

Market heavyweights RIL tumbled 11.57 per cent and TCS tanked 5.84 per cent.

10:40 March 23

Sensex down by 3,000 points

Pre-open session starts

Pre-open session starts at 10:42 am. Market will reopen at 10:57 am.

09:58 March 23

BSE Sensex

BSE Sensex

Sensex touches lower circuit, down by 10 per cent

Equity benchmark Sensex sank nearly 3,000 points to hit its lower circuit limit in morning session on Monday, triggering a 45-minute trading freeze as coronavirus-led lockdowns across the world stoked fears of a massive global recession.

The 30-share BSE Sensex plunged 2.991.85 points or 10 per cent to 26,924.11 at 10 am. Similarly, the broader NSE Nifty fell 842.45 points or 9.63 per cent to 7,903.00.

Trading halts for 45 minutes. As an automatic mechanism to freefall in the market, when an exchange plunges 10 per cent before 1 pm, trading is halted on stock exchanges for 45 minutes.

Pre-open session will start at 10:42 am and market will reopen at 10:57 am.

This is the first time when markets have touched the lower circuit twice in a single month.

09:48 March 23

Sensex view at 9:40 am

Sensex view at 9:40 am

All Sensex components were trading in the red, with Bajaj Finance tanking up to 14 per cent, followed by Axis Bank, UltraTech Cement, ICICI Bank, Maruti and M&M.

09:38 March 23

Rupee tanks 95 paise, falls below 76 level against US dollar

The Indian rupee slipped further by 95 paise to 76.15 against the US dollar in opening trade on Monday amid sharp rise in coronavirus cases in the country and heavy selling in domestic equities.

The rupee which opened on a weak note at 75.90 at the interbank forex market, lost further ground and touched a low of 76.15 against the US dollar, registering a decline of over 95 paise over its last close.

09:20 March 23

Market opening

BSE Sensex

BSE Sensex

Sensex tanks 2,700 points, Nifty sheds 685

Mumbai: Equity benchmark Sensex plummeted over 2,700 points in opening session on Monday as global stocks resumed their free fall amid coronavirus-led lockdowns across the world stoking fears of a massive recession.

After sinking over 2,718 points, the BSE barometer was trading 2,430.57 points or 8.12 per cent lower at 27,485.39. Similarly, the NSE Nifty was trading 682.35 points, or 7.80 per cent, down at 8,063.10.

During the last trading week till Friday, the Sensex plummeted 4,187.52 points or 12.27 per cent, while the Nifty sank 1,209.75 points or 12.15 per cent.

Global Market

Bourses in Shanghai, Hong Kong and Seoul plunged up to 4 per cent, while Tokyo was trading with gains.

MSCI's broadest index of Asia Pacific shares outside Japan lost by 3.8 per cent while Shanghai blue chips dropped by 2.3 per cent. But Japan's Nikkei rose by 0.8 per cent aided, likely by expectations of more aggressive asset buying by the Bank of Japan.

Meanwhile, Brent crude oil futures fell 3 per cent to USD 26.17 per barrel.

(Input from agencies)

Last Updated : Mar 23, 2020, 6:25 PM IST

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