The Indian stock market experienced a significant crash, with investors losing approximately ₹4 lakh crore, driven by sharp declines in major IT stocks.
On Tuesday, the Indian stock market opened to a significant decline, which persisted throughout the trading session. Investors faced a massive loss of around ₹4 lakh crore due to this stock market crash. The Bombay Stock Exchange's Sensex plunged by 1,068 points, closing at 82,225.92, while the National Stock Exchange's Nifty dropped 288 points, ending below the 25,500 mark. Notably, major IT stocks like Infosys, Tech Mahindra, and HCL Tech faced severe downturns, reflecting investor panic in this sector.
The Sensex opened lower than its previous close of 83,294.66, starting at 83,052. As the day progressed, the decline intensified, with the index falling by over 1,300 points by around 2 PM. Though there was a slight recovery in the final hour of trading, it was insufficient to stem the overall losses, marking a significant day in the stock market with widespread chaos in the IT segment.
This crash raises concerns among investors about market volatility and the potential reasons behind such drastic movements, particularly in the IT sector, which has been a cornerstone of India's economic growth. The cascading effect of such a decline could lead to further scrutiny of market fundamentals and investor sentiment in the days to follow, prompting discussions on possible government or regulatory responses to stabilize the market.
