Indian stock market nosedived on Monday as shares price slipped by 6%, the biggest single-day fall in last 10 years. Experts have called it clear impacts of failure of the Yes Bank and rapidly increasing Coronavirus.
The stock market crash created a panic amoung investors after the S&P BSE Sensex index went as 2,366.26 points down to touch 35,210.36 mark.
The NSE Nifty too slumped to 10,327.05, losing 662.4 points. Stockmarket slip impacted bad on all sectors including financial, metal and energy stocks, while the heavyweight Reliance Industries saw a historical crash by 11 % turning out to be the worst day of the decades.
ONGC, Reliance Industries, Vedanta, Zee Entertainment, IndusInd Bank and TCS were the biggest percentage losers of the day as their shares’ cost went down by 7.95% to 14.07%.
Off 50 shares in the Nifty basket, 46 companies faced losses today.
On the other side, the Yes Bank and the Bharat Petroleum moved up by 29.72% and 7.33%, said reports.
In Sensex bracket, Reliance Industries, HDFC Bank and ICICI Bank were top drags losing 1100 points together. Reliance Industries alone accounted 500 points drop.
Soon after the stock market crashed, social media starting criticising the government, and RBI’s policies. A few people said that it’s a great time to invest in market and puschase shares a cheap cost as Reliance would recover soon and people may make a big profit.
While a few experts advised to stay away if one doesn’t have a big capital to invest.
#Reliance made 1609 on result 20 jan
now 1095 low, 2 tgt done.
31% fall came.
view shared on 16 jan 20'. pic.twitter.com/EOOuyGjUxv
— BSB addvisoryy (@BSBaddvisoryy) March 9, 2020
— Amit bajaj (@investogrow) March 9, 2020
And here it is! Bloodbath🩸with #reliance also down by 13%
Observing such fall for the first time. pic.twitter.com/h5nGPOheHn
— Parth Patel (@_par7h) March 9, 2020