India’s benchmark stock index, opened with a sharp decline on Monday. This isn’t the first time the index has experienced such drops, often triggered by major global and domestic economic events. Here, we take a look at the five biggest intraday falls in the history of the Sensex.
1. June 4, 2024: Post-Election Uncertainty
The most recent decline occurred on June 4, 2024. On this day, the Sensex saw one of its steepest drops, plummeting to an intraday low of 70,234.43 points. The market had opened at 76,285.78 and witnessed a dramatic fall of 6,051.35 points, marking a 7.93 percent decline before closing at 72,079.05. The sharp drop was driven by the uncertainty following the election results, where no political party secured a majority in the parliamentary elections.
2. March 23, 2020: COVID-19 Pandemic Panic
On March 23, 2020, amidst the growing panic caused by the COVID-19 pandemic, the Sensex plunged to an intraday low of 25,880.83 points. The market opened at 27,608.80, experiencing a drop of 1,727.97 points, or 6.23 percent, to the intraday low, and closed slightly higher at 25,981.24. This period was marked by extreme volatility in the market, reflecting one of the most turbulent times in recent history.
3. March 16, 2020: Continued Pandemic Impact
Just a week before the March 23 drop, on March 16, 2020, the Sensex faced another major decline, falling to an intraday low of 31,276.30 points. The index opened at 33,103.24 and saw a decline of 1,826.94 points, or 5.51 percent, as the day low, closing at 31,390.07. The ongoing uncertainty due to the pandemic and its economic impact continued to cause severe market reactions.
4. March 13, 2020: Global Market Sell-Offs
On March 13, 2020, the Sensex experienced intraday fall, reaching a low of 29,388.97 points. The market had opened at 31,214.13 and plunged by 1,825.16 points, a decline of 5.84 percent, but managed to recover somewhat by the close, ending the day at 34,103.48. This day was marked by global market sell-offs and heightened fears of a global recession.
5. March 12, 2020: Rapid Spread of COVID-19
A day before the March 13 drop, on March 12, 2020, the Sensex dropped to an intraday low of 32,493.10 points. The index opened at 34,472.50 and saw a fall of 1,979.40 points, or 5.74 percent, before closing at 32,778.14. This decline was part of a series of losses as investors reacted to the rapid spread of COVID-19 and its economic repercussions.
(Inputs form ANI)
