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Published: September 5, 2024
Updated: September 5, 2024

Market Mayhem: Sensex and Nifty Plummet as Global Markets Crash

A Bloodbath in the Markets

The Indian stock market witnessed a sharp decline in early trade today, with the Sensex and Nifty tumbling due to a global market crash triggered by weak manufacturing data in the US economy. Investor wealth plummeted by a staggering Rs 3 lakh crore, with the market capitalization standing at Rs 462.44 lakh crore.

Top Losers and Market Breadth

The top Sensex losers included JSW Steel, Infosys, Tech Mahindra, Tata Steel, and NTPC, with declines of up to 1.77%. A whopping 28 out of 30 Sensex stocks were trading in the red. On the Nifty, 46 stocks were trading in the red, with ONGC, Hindalco, Wipro, LTIMindtree, and JSW Steel being the top losers.

52-Week Highs and Lows

Despite the market crash, 87 stocks hit their 52-week highs on the BSE. However, 19 shares hit their 52-week lows, indicating a mixed sentiment in the market. The market breadth was in the red, with 1597 stocks trading lower, while 1288 stocks were trading higher.

Foreign Institutional Investors and Circuit Limits

Foreign institutional investors were net sellers, buying Rs 1735 crore worth of equities on a net basis on Tuesday. Domestic investors, on the other hand, bought Rs 356.37 crore of shares. The weak sentiment in the market led to 70 shares hitting their lower circuit limits, while 98 stocks hit their upper circuit limits.

Global Market Trends

The weak manufacturing data in the US led to a crash in the global markets. The NASDAQ Composite Index slipped 577 points, while the S&P 500 index closed 119 points lower. The Dow Jones Industrial Average plunged 140 points. The Asian markets followed suit, with Japan's Nikkei crashing 1,350 points and Hang Seng slipping 186 points.

The market crash today is a clear indication of the global market trends and the impact of weak manufacturing data in the US economy. Investors need to be cautious and keep a close eye on the market trends to make informed decisions.