Sensex crashes over 1,000 points, Nifty trades below 21,700

Nifty 50, Sensex suffer biggest single-day loss since June 2022; investors lose nearly ₹5 lakh crore

Benchmark equity indices traded in the deep red for the second consecutive day today, following negative cues from global peers. Nifty 50 plunged 460 points, or 2.09 per cent, to close at 21,571.95 while the Sensex suffered a loss of 1,628 points, or 2.23 per cent, to settle at 71,500.76.

Nifty 50 opened at 21,647.25 against the previous close of 22,032.30 and touched the intraday low of 21,550.45 during the session. The index finally closed with a loss of 460 points, or 2.09 per cent, to close at 21,571.95.

The Sensex opened at 71,998.93 against the previous close of 73,128.77 and touched its intraday low of 71,429.30. The index closed with a loss of 1,628 points, or 2.23 per cent, at 71,500.76.

This was the biggest single-day fall of the Nifty 50 and the Sensex in percentage terms. 

On June 13, 2022, Nifty 50 had fallen 2.64 per cent and Sensex had suffered a loss of 2.68 per cent.

The poor performance of HDFC Bank’s share price sent shockwaves through the market, precipitating a ripple effect that impacted various other banking stocks. Nifty Bank concluded the day with a steep decline of over 4 per cent, as every constituent found itself in negative territory. This was the biggest single-day percentage fall of the Nifty Bank index since March 7, 2022.