Stock Market Crash - Business Outrank

Today the stock market witnessed a major crash where Sensex declined by 764.08 points or 1% to 75,426.38 and the Nifty 50 also declined by 237 points or 1.03% to 22,855.20 as at 10:30 am IST. The decline was led by stocks in the media, mid and small cap healthcare and IT & telecom sectors which spooked investors. The weakest performer among the Sensex stocks in the day was food delivery major Zomato Ltd., which plunged 3.38% to ₹208.50, followed by Power Grid Corporation and HCL Technologies, which sank 2.96% and 2.47%, respectively. However, ICICI Bank, Hindustan Unilever, Nestle India, and Maruti Suzuki managed to hold positive numbers. In terms of sectors, the Nifty Media Index plunged 4.29% to close at 1,572.90, and the Nifty Midsmall Healthcare Index crashed 3.86%, settling at 39,200.65. The Nifty Midsmall IT & Telecom Index also posted a negative return of 3.46%, closing at 10,325.50. In the previous session, the market closed the week’s session in the negative zone with Sensex falling by 329.92 points to 76,190.46 and Nifty declining by 113.15 points to 23,092.20. Media and healthcare stocks were the main losers. Prestige Real Estate was the biggest loser on the Realty Index, falling 7.64%, while Syngene International led the healthcare pack, tanking 5.97%. The market is still on a downward trend and investors are still quite wary; they are waiting for developments on the international front and within specific industries.

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