9th March mayhem marked the biggest crash in Sensex history.BSE Sensex ended 1942 points lower at 35,635 while the NSE Nifty settled at 10,451, down 538 points. The stocks crash wiped out Rs 6.50 lakh crore of equity investors' wealth.
Why the crash?
Deepening fears about the spread of coronavirus and a crash in crude oil prices gave ammunition to the bears to push the domestic equity indices lower in Mumbai trading.
Heavy selling by foreign investors and doubts over stability in Indian financial systems following the crisis at India’s fifth-largest private lender YES Bank also dampened the mood.
Analysts see the oil price crash is largely negative for India despite it depending heavily on imports.
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