Today’s stock market crash: On Monday, November 4, 2024, the Indian stock market plummeted, with the NSE Nifty plunging more than 350 points and the benchmark BSE Sensex plunging more than 1,100 points, both of which were about 1.5% lower than their starting values.
What was the magnitude of today’s stock market crash?
As of 10:45 am IST, the Sensex had fallen 1154.45 points, or 1.45%, to reach 78,569.67, while the Nifty had fallen 370.30 points, or 1.52%, to reach 23,934.05.
The current intraday low for the Sensex was 78,232.60, a drop of 1,491.52 points, or 1.87%, from the previous close of 79,724.12.
As of right now, the Nifty’s intraday low was 23,816.15. Compared to the previous close of 24,304.35, this represented a 2% or 488.2 point decline.
What caused today’s stock market meltdown?
The US elections, which are set for Tuesday, November 5, 2024, created market jitters at the time of the catastrophe. Interest rates in India and around the world will be impacted by the US Fed’s policy, which may be influenced by the election results.
The rise in global energy prices was another factor. According to Bloomberg data, WTI futures for December 2024 increased 1.87% to $70.79 a barrel, while Brent Crude futures for January 2025 up 1.71% to $74.35 a barrel.
Which industries and businesses saw the biggest declines following today’s stock market meltdown?
Of the Sensex stocks, Sun Pharmaceuticals Industries Ltd. dropped the most, dropping 4.23 percent to ₹1,780.00. Following this, NTPC Ltd saw a 4.22 percent decline to ₹394.15, followed by Reliance Industries Ltd, which saw a 3.61 percent decline to ₹1,290.70, and Adani Ports And Special Economic Zone Ltd, which saw a 3.59% decline to ₹1,344.
Nifty Media experienced the largest decline of all of the NSE’s sectoral indexes, falling 3.36%, followed by Oil & Gas at 3.45% and Nifty Realty at 2.89%.
What was the response of the markets to the Muhurat Trading?
This follows the initial market opening following the Muhurat Trading session for 2024’s Diwali, which took place last Friday, November 1, 2024, from 6 to 7 p.m. IST.
The markets closed following the conclusion of the Muhurat Trading session, with the Sensex rising 335.06 points, or 0.42%, to 79,724. At 24,34.35, the Nifty ended the day 99 points higher.
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