‘Black Monday’ in the Share Market on the First Day of the Week, Sensex and Nifty Crash; Panic Among Investors

Mumbai (The Uttam Hindu): The sharp turmoil in global stock markets had a direct impact on the Indian equity market on the first trading day of the week. Amid heavy selling across Asian markets—from Japan’s Nikkei to South Korea’s Kospi—the domestic market opened with a steep fall. Both Sensex and Nifty traded deep in the red, triggering panic among investors. Out of the 30 large-cap stocks on the BSE, as many as 28 were seen trading with losses.

On Monday, the BSE Sensex opened lower at 84,891.75 compared to its previous close of 85,267. At the time of writing, the index was trading around 84,860, down by nearly 390 points. The NSE Nifty followed a similar trend. After closing at 26,046.95 on Friday, Nifty opened gap-down at 25,930.05 and was trading around 25,910, down by about 145 points.

The sell-off was largely driven by weakness in overseas markets. In the US, the Dow Jones fell 245 points to close at 48,479.04, while the S&P index declined 1.06 percent to end at 6,848.89. This weakness spilled over into Asian markets during early trade. Japan’s Nikkei dropped 745 points (1.50 percent), South Korea’s Kospi slipped 1.61 percent to 4,099, Hong Kong’s Hang Seng lost 235 points, and the Australian market also traded in negative territory.

The decline was broad-based, affecting large-cap, mid-cap, and small-cap stocks alike. In early trade, heavyweight stocks such as Mahindra & Mahindra, Bharti Airtel, and Trent fell between 1 and 1.60 percent. In the mid-cap segment, NIACL and Endurance slipped by over 2 percent. The sharpest fall was seen in small-cap stocks, with SHK plunging nearly 7 percent, Kotic falling about 5 percent, and VLS Finance dropping around 4.80 percent.