Sensex, Nifty crash worst since 2024 Lok Sabha debacle. What to do when the market turns into madhouse
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In a brutal Monday meltdown, the Nifty50 crashed 5% intraday—marking its worst single-day performance since the Lok Sabha election result debacle on June 4, 2024—triggering flashbacks of past market horrors and raising fresh fears of a bear market knocking at the door. The Sensex also tumbled nearly 4,000 points in early trade, slipping below the 71,500 mark but ended 2,227 points lower at 73,138. Blue-chip bloodshed was rampant: Tata Steel and Tata Motors plummeted 5-7%, while heavyweight stalwarts like Reliance Industries, HDFC Bank, and ICICI Bank slid 3% each in an all-out selloff that spared few. Also read | Nifty catches Wall Street's fever: Bear market growls turn into roars after massive selloff This was only the second time since the Covid crash of 2020 that Indian markets fell more than 5% in a single day. With the Nifty now down about 15.66% from its peak, the benchmark index is 1,140 points away from officially entering be...