Stock Market: Share Market Plunges Amid Heavy Selloff; Sensex Falls 2,222 Points, Nifty Settles At 24,055

Stock Market: Sensex ended the day trade at 78,758.40, down 2,222.55 points or 2.74 percent. Nifty 50 settled at 24,055.60, down by 2.68 percent or 662.10 points. The fall was triggered by extremely weak trends in global equity markets amid fears of a slowdown in the US economy. This was the worst trading day since June 4, 2024 for both the Sensex, and the BIFT. Japan’s Nikkei fell more than 12 percent and geopolitical tensions in the Middle East undermined market sentiment, also bringing bearish sentiment. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong saw significant declines. The global market rout was compounded by investor concerns that the U.S. economy could be headed for recession as Japan’s benchmark stock index fell 12.4 percent on Monday. Our report Hiring by U.S. employers last month was much slower than expected, beating the euphoria that pushed the Nikkei 225 to an all-time high last week, according to a report released Friday. The Japanese market The Nikkei fell 4,451.28 points to close at 31,458.42 on Monday. It fell 5.8 percent on Friday, the worst two-day decline ever. Its worst single-day defeat was on October 19, 1987, down 3,836 points, or 14.9 percent, after the global market crash was called "Black Monday" The global recession proved to be perhaps only a temporary setback. European Stock Market European markets also traded with deep cuts. U.S. markets ended significantly lower on Friday. Tata Motors fell more than 7 per cent from the Sensex pack. Adani Ports, Tata Steel, SBI, Power Grid, JSW Steel and Maruti were other big laggards.

By Aditya Pratap Singh
Mon, 05 Aug 2024 03:45 PM (IST)

Source:JND

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Stock Market: Domestic benchmark indices suffered a heavy loss on Monday following the heavy sell-off in the domestic and global markets. Sensex, the index of the top 30 companies on the Bombay Stock Exchange (BSE), ended day trade at 78,758.40, down 2,222.55 points or 2.74 percent. Nifty 50, the index of the top 50 companies listed on the National Stock Exchange (NSE), settled at 24,055.60, down by 2.68 percent or 662.10 points.

The decline was triggered by a global equity market downturn, which was sparked by concerns about a slowdown in the U.S. economy.

Also Read: India To Host First BIMSTEC Business Summit In New Delhi From August 6-8

This was the worst trading day for the Sensex and Nifty since June 4, 2024. The Nikkei in Japan fell by more than 12 percent, and geopolitical tensions in the Middle East have also eroded market sentiment and stoked bearish sentiment.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong all saw significant declines. The global market rout was compounded by investor concerns that the U.S. economy could be headed for a recession, as the Nikkei stock index in Japan fell 12.4 percent on Monday.

US Employers Report

According to a report released on Friday, hiring by U.S. employers last month was much slower than expected, which has dampened the euphoria that drove the Nikkei 225 to an all-time high last week.

The Japanese Market

The Nikkei fell 4,451.28 points to close at 31,458.42 on Monday. On Friday, it fell by 5.8 percent, its worst two-day decline ever. Its worst single-day decline was on October 19, 1987, when it fell by 3,836 points, or 14.9 percent after the global market crash was dubbed "Black Monday." The global recession proved to be perhaps only a temporary setback.

European Stock Markets

European markets also traded with deep cuts. U.S. markets ended significantly lower on Friday. Tata Motors fell by more than 7 percent from the Sensex pack. Adani Ports, Tata Steel, SBI, Power Grid, JSW Steel, and Maruti were also among the biggest losers.

Also Read: Japan's Nikkei Stock Index Falls 12.4% In Global Selloff; Nifty, Sensex Tumble Over 2%

(With PTI's Input)

Stock Market: Share Market Plunges Amid Heavy Selloff; Sensex Falls 2,222 Points, Nifty Settles At 24,055

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