Stock market crash: Sensex down 740 points, Nifty at 21,800; all sectors in red - Hindustan Times
close_game
close_game

Stock market crash: Sensex down 740 points, Nifty at 21,800; all sectors in red

Mar 19, 2024 03:35 PM IST

Sensex crash today: Sensex shed over 700 points to reach below 72,200 level. Nifty gave up 21,900 mark. What is happening?

Sensex crash today: Indian equity indices traded lower today (March 19) dragged by heavyweights TCS, Reliance Industries, and Infosys. Asian peers are also declining ahead of the US Fed policy decision this week. Sensex shed over 600 points to reach below 72,200 level. Nifty gave up 21,900 mark and the market capitalisation of all listed companies on BSE declined by 3.71 lakh crore to 375.08 lakh crore.

Sensex crash today: Sensex shed over 600 points to reach below 72,200 level.
Sensex crash today: Sensex shed over 600 points to reach below 72,200 level.

Here are the top reasons for Sensex crash today:

Read more: IndiGo share price at record high, Kotak sees a 30% upside in stock: What next? Should you buy or not?

  1. Global effect: Asia’s benchmarks remained on the back foot- following losses of more than 1% each in Hong Kong’s technology shares and South Korean equities. US contracts pointed to losses as well and Japan's Nikkei share average swung between small gains and losses. This comes after the Bank of Japan announced an end to its long-running ultra-accommodative stimulus programmes. Read more: Japan exits world's last negative-rate regime in landmark policy shift
  2. IT stocks effect: TCS experienced a 3% decline after 2.02 crore or 0.6% shares changing hands in a block deal on the counter. HCL Tech, Wipro and Infosys - also traded with cuts resulting in losses on the index. The IT index has become the worst sectoral loser today and is down 2%. Read more: TCS share price down 3% after 2.2 crore shares change hands: Will it fall or recover? Should you buy or hold?
  3. FIIs 'sell' mode: Foreign portfolio investors sold Indian shares worth 2,051 crore on a net basis today.
  4. Oil causing boil: Oil prices edged down early after gaining in the previous trading session as the prospect of rising supply from Russia. Possibility of slower-than-expected downstream demand in sectors such as jet fuel could also be resulting in the same. Brent crude remained above $86 per barrel but oil may be having an impact on the stock market as well.

Unlock exclusive access to the latest news on India's general elections, only on the HT App. Download Now! Download Now!

Tell us what your First Vote will stand for in a short video & get a chance to be featured on HT’s social media handles. Click here to know more!

Get Current Updates on India News, Elections 2024,, Election 2024 Date along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, May 23, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On