Stock Markets crashed to new lows on 9th May leaving investors losing Rs.6 Lakh crores in one session. Investors reacted in panic after looking recent trends. International Stock Markets did not have much impact yet again but foreign investors driven selling off sentiment leading to the crash. Hence, BSE lost 1,062.22 points to close at 72,404.17 and Nifty lost 345.00 points to close at 21,957.50 mark.
BSE Sensex started trading at 73,499.49 and then continued to trade between 73,499.49 – 72,334.18. Investors did not find any kind of interest in investing rather they went for selling off their holds. Mainly, HDFC bank, L&T, Relaince Industries and ITC stocks lost huge due to selling pressure. Hence, BSE ended the trading session at 72,404.17 by losing 1,062.22 points.
Nifty Sensex started trading at 22,224.80 mark and it hit its highest for the day at 22,307.75. Nifty50 hit the lowest at 21,932.40. Investors never seemed to be confident in the big stocks sustaining in this session. Q4 results of big companies did not infuse any confidence, too. Hence, Nifty50 ended the session by losing 345.00 points on 21,957.50.
Indian Rupee traded at Rs.83.49 against US Dollar on 09th May 2024. Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys, HCL shares have ended with gains but rest of them all ended losing. Experts reasoning this crash to elections, Q4 results and VIX growing to 18%. Well, Stock Markets might see huge rush at huge lows in coming days but this is a big setback in recent history.