BSE Sensex posted its biggest single-day decline on March 9 amid crude war initiated by Saudi Arabia and coronavirus fears.
The 30-share index crashed 2,467.44 points intraday with all constituent stocks ending in the red.
Let’s look at the final tally on D-Street – the S&P BSE Sensex closed 1,942 points lower at 35,634.95 while the Nifty50 ended with losses of 538 points to close at 10,451.45 on Monday.
The market breadth was largely in favour of bears as six shares declined for every share rising on the BSE.
The broader markets also corrected sharply. BSE Midcap index fell 4.7 percent and Smallcap index was down 4.2 percent.
All sectors closed in the red with BSE Energy being the biggest loser (down 9.7 percent). Other major losers were Metal (down 7.6 percent), IT (5.4 percent), Bankex (5 percent), Power (4.5 percent) Capital Goods (4.4 percent) and Auto (3.66 percent).
Here are the top 10 biggest Sensex falls:
Today's fall was mostly due to global factors.
Global markets plunged after the break of an alliance between OPEC and Russia resulted in the worst one-day crash in crude prices (more than 30 percent) in nearly 30 years, fueling panic triggered by the escalation of the coronavirus epidemic.
European markets - France's CAC, Germany's DAX and Britain's FTSE were down 6-7 percent at the time of publishing this copy, while Asian markets closed in the red with a loss of 3-7 percent.
The panic began after Saudi Arabia shocked oil markets by launching a price war as it slashed its selling prices by $6-8 a barrel. Italy placed nearly 16 million people under semi-lockdown and the number of confirmed cases in Europe continued to rise.
Overall coronavirus cases crossed 1.07 lakh with more than 3,600 deaths worldwide including more than 7,000 cases in South Korea and 80,000 in China.
"We expect Indian markets to remain under pressure in the near-term since the sentiments are weak on the worries of a slowdown across the globe. Investors would continue to monitor crude oil prices, currency movement and the updates on the spread of Coronavirus cases as these factors are keeping the markets on edge," Ajit Mishra, VP - Research at Religare Broking told Moneycontrol.