Bloodbaths on D-Street: Headline indices Sensex and Nifty50 have witnessed several crashes in the recent past that remind Dalal Street investors of the global financial crisis of 2008. The latest plunge, of December 20, for instance, is the 15th time this year that the 30-scrip index shed more than 1,000 points in a single day. Here's a look at some of the worst crashes during the COVID-19 period and beyond.
Black Friday: On November 26, 2021, the Sensex fell 1,687.9 points or 2.9 percent amid a global sell-off as investors worried over repercussions of the pandemic on the global economy and businesses once again. Pharma stocks bucked the overall negative trend, as investors put their hopes in the space against the devastating impact of the pandemic. (Read more about this day)
On April 12, 2021, COVID-19 caught D-Street investors off guard yet again as broad-based selling amid increasing COVID-19 cases in the country pulled benchmark indices sharply lower. Fears about the return of lockdowns and additional curbs to curb the spread of the pandemic damaged investor sentiment. The Sensex tumbled 1,707.9 points or 3.4 percent on this day. (Read more about this day)
The last week of February 2021 saw two market crashes amid nervousness among investors globally over surging bond yields. The trading week began with the Sensex plummeting 1,939.3 points or 3.8 percent on Monday, followed by a drop of 1,145.4 points or 2.3 percent on Friday. US treasury yields climbed to their highest level recorded in more than a year on expectations of strong economic expansion and related inflation. Back home, the 10-year G-Sec yield jumped to 6.18 percent. (Read more on Feb 22, 26)
On December 21, 2020, the Sensex nosedived 1,406.7 points or three percent in its biggest single-day fall in more than seven months. A global sell-off amid fears of a new COVID-19 strain that shut much of the UK created ripples on Dalal Street indices. Maharashtra imposed a night curfew in Mumbai and major cities, as the new strain of the virus was believed to be more contagious than the existing one. (Read more about this day)
On October 15, 2020, the Sensex plunged 1,066.3 points or 2.6 percent -- its biggest loss in three weeks -- to snap its longest gaining streak in nearly six years. A record number of new COVID-19 infections in parts of Europe spooked investors across the globe. Analysts said the rise in infections across Europe amid no sign of a vaccine then hit global market sentiment. (Read more about this day)
On September 24, 2020, the Sensex crashed 1,114.8 points or three percent to a more than two-month low following a series of warnings from Fed officials about the fallout from the pandemic that rattled investors. The 30-scrip index had begun the week with a slide of 811.7 points or 2.1 percent. (Read more about this day)
On May 18, 2020, the Sensex index took a hit of 1,068.8 points or 3.4 percent, as stimulus measures announced as part of the Centre's Rs 20 lakh crore economic package failed to cheer investors. The announcement to extend the nationwide lockdown till the end of the month also dampened investor sentiment. Earlier that month, on May 4, the 30-scrip index lost 2,002.3 points or 5.9 percent tracking global markets amid US-China tensions. (Read more)
On April 1, 2020, the 30-scrip gauge slumped 1,203.2 points or 4.1 percent, following the release of data showing a significant increase in the number of COVID-19 cases across the country despite a full lockdown.
In the month of March 2020, the headline indices saw a slew of days with deep cuts, including March 23, when the 30-scrip barometer shed 3,934.7 points or 13.2 percent. In a rare occurrence on Dalal Street, trading was halted on the bourses for 45 minutes as the key indices hit their 10 percent circuit limits. The trouble in the financial market began several days prior to the event. On February 28, March 6, March 12, March 16-19, the Sensex crashed around 2-5 percent. (Read more on COVID-triggered selloff on D-Street)
The year of the global financial crisis -- 2008 -- saw 63 instances of the headline indices tumbling two percent or more. The worst day of the year for Dalal Street was October 24, when the Sensex gave up 1,070.6 points or 11 percent.