Stock Market Collapse: Benchmarks for Domestic Equities In a very turbulent session on Friday, October 4, Sensex and Nifty 50 continued to lose ground for the fifth straight session.
They also had their worst week in more than two years due to low geopolitical concerns and foreign outflows. The two percent fall observed in the previous session is followed by today’s crash.
The frontline indices lost about 4.5 per cent each for the week, their worst since June 2022, with most of the decline due to a two per cent slump on Thursday.
Overall the indices have ended the truncated September 30-October 4 week after three straight weeks of positive returns. From their record highs scaled on September 27, the benchmarks have dropped over five per cent.
On Friday, the 30-share BSE Sensex fell 808.65 points, or 0.98 percent, to close at 81,688.45, marking the fifth consecutive day of declines. The benchmark saw a dramatic swing of 1,835.64 points during the session, peaking at 83,368.32 and falling to 81,532.68.
At 25,014.60, the NSE Nifty 50 fell 235.50 points, or 0.93 percent, to close. It reached a peak of 25,485.05. within the day. The benchmarks once more moved into the red during the final part of the trade. The Nifty plunged 518.25 points to its day’s low of 24,966.8, while the Sensex lost 1,835.64 points from its peak of 81,532.68.
The broader, more domestically focused small and mid-caps fell 2.5 per cent and 3.2 per cent for the week. Mukesh Ambani-led Reliance Industries, the second-heaviest Nifty 50 stock, shed 9.2 per cent, leading the index’s losses this week.