Stock Market Crash: Domestic equity benchmarks Sensex and Nifty 50 extended losses for the fifth straight session on Friday, October 4, in an exceptionally volatile session, and logged their worst week in over two years amid weak geopolitical tensions and foreign outflows. The market crash comes after a two per cent decline seen during Thursday’s session.
The frontline indices lost about 4.5 per cent each for the week, their worst since June 2022, with most of the decline due to a two per cent slump on Thursday. Overall the indices have ended the truncated September 30-October 4 week after three straight weeks of positive returns. From their record highs scaled on September 27, the benchmarks have dropped over five per cent.
Falling for the fifth day running on Friday, the 30-share BSE Sensex tumbled 808.65 points or 0.98 per cent to settle at 81,688.45. The benchmark hit a low of 81,532.68 and a high of 83,368.32 during the day, reflecting a wild swing of 1,835.64 points during the session.
The NSE Nifty 50 slumped 235.50 points or 0.93 per cent to settle at 25,014.60. Intra-day, it hit a high of 25,485.05. During the last leg of the trade, the benchmarks again slipped into the red. Sensex shed 1,835.64 points from the day’s high of 81,532.68, while the Nifty tanked 518.25 points to its day’s low of 24,966.8.
D-Street experts say that the two major events in the week gone by have significantly impacted our markets: SEBI’s new F&O regulations and the increasing geopolitical tensions between Iran and Israel.
