Black Monday at Dalal Street
PrashantNews
The Indian stock market on Monday witnessed a bloodbath as the BSE Sensex crashed 5.19 percent or 3914 points intraday before recovering partially to close at 73137.9.
The crash which began with the opening of the bell continued the whole day with the benchmark Sensex tanking 3900 in the morning before it ended the day at 73,137.90 down 2227 points or 2.95 percent.
Nifty ended at 22161.60 down 743 points or 3.24 percent.
The market analysts said the market mainly crashed in the wake of the global market turmoil triggered by the fears of the prolonged trade war. This has sparked the worries of economic slowdown in the world with most of the markets in Europe and US also bleeding.
All major sectors ended in negative territory with Nifty metals sinking 8 percent and Nifty IT sliding over 7 percent.
US President Donald Trump remained defiant asking the people to be patient. “Be strong, courageous, and patient and greatness will be the result,” Trump wrote on Truth Social, his social media platform.
Significantly, there was no reaction from Union Finance Minister Nirmala Sitharaman on the stock market crash so far.
Most of the sensex shares remained red throughout the day. Among the top losers, Tata Steel closed at 129.60 (down 7.73%), L&T 3070.85 (down 5.78%), Kotak Mahindra Bank 2040.50 (down 4.33 %), Infosys 1397.80 (down 3.75%) suffered the most.