Carnage on D-Street: Five worst market falls witnessed

Carnage on D-Street: Five worst market falls witnessed in the past

Representative image. (PTI Photo)

Bloodbath on D-Street as Sensex crashed over 2,400 points and Nifty saw the biggest single-day fall ever amid a global rout on March 9.

The BSE Sensex crashed around 2,400 points intraday on March 9 after Saudi Arabia started a price war with Russia by reducing oil prices by over $10 a barrel. The Nifty50 fell over 600 points below the crucial 10,500-mark to 10,385.40 points. This added to the existing weak sentiment due to rising cases of coronavirus cases outside of China.

The 30-share index (Sensex) closed at 35,634.95, down by 1,941.67 points, while the Nifty50 closed at 10,451.45, down by 538 points.

On March 9, 2020, the market recorded the worst fall with Sensex plunging 1,941.67 points and Nifty50 by 538 points due to a fall in crude oil prices and coronavirus fears.

Here are the other five worst falls that market has witnessed in the past:

1. On August 24, 2015, Sensex fell by 1,624.51 points after global markets crashed and Rupee tumbled. The same year on January 6, the market crashed by 854.86 points.

2. On February 28, 2020, Sensex fell by 1,448.37 points after global markets witnessed the crash on the back of slowdown concerns due to coronavirus outbreak. On March 6, 2020, Sensex fell by 894 points.

3. On January 21, 2008, amid global worries over slowing economic expansion, the Sensex fell by 1,408.35 points. It was the year of the global financial crisis as sub-prime lending defaults led to the collapse of many US Banks.

4. On October 24, 2008, Sensex fell 1,071, a month of after the collapse of Lehmann Brothers, as more and more financial institutions tumbled.

5. On February 1, 2020, Sensex falls 987 points after Finance Minister Nirmala Sitharaman presented her Union Budget for 2020-21.