Stock market crash: Sensex tumbles by over 700 points, Nifty down over 200

Falling IT, pharma, healthcare, and bank stocks caused the stock market to crash during the later trading hours

Stock market crash: The Indian stock market crashed during the later trading session on Friday, January 3, 2025, because of falling IT, pharma, healthcare, and bank stocks.

Stock market crash: People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (Reuters)

At 3:10 pm IST, the benchmark BSE Sensex plummeted by a staggering 749.13 points or by 0.94%, reaching 79,194.58.

Meanwhile, the broader NSE Nifty fell by 202.85 points or 0.84%, reaching 23,985.80.

Only 13 out of the 30 Sensex stocks and 18 out of the 50 Nifty 50 stocks were in the green.

Which stocks fell the most?

Among the Sensex stocks, Zomato Ltd fell the most by 4.02%, trading at ₹273.40. This was followed by Tech Mahindra Ltd which fell by 2.63%, trading at ₹1,682.20 and HDFC Bank which fell by 2.56%, trading at ₹1,747.50.

Among the Nifty stocks, Wipro Ltd fell the most by 3.21%, trading at ₹294.05. This was followed by HDFC Bank which fell 2.59%, trading at ₹1,747.35 and Tech Mahindra Ltd which fell by 2.54%, trading at ₹1,683.

Which sectors fell the most?

Among the Nifty Sectoral Indices, Nifty IT fell the most by 1.38%, reaching 43,738.65. This was followed by Nifty Pharma which fell 1.27%, reaching 23,254.20, Nifty Healthcare Index which fell 1.23%, reaching 14,890.20, and Nifty Bank which fell 1.16%, reaching 51,008.95.

How did the stock market open?

The crash did not come all of a sudden, with the market opening in the red and gradually leading to it.

At 9:30 am IST, the Sensex down by 248.13 points or 0.31%, reaching 79,695.58, while, the Nifty was down by 57.45 points or 0.24%, reaching 24,131.20.