Key Points:
- Sensex opened at 84,891.75, down from Friday’s close of 85,267
- Nifty plunged to 25,910, dropping 145 points from 26,046.95
- Japan’s Nikkei crashed 745 points to 50,092.10
- Hong Kong’s Hang Seng fell 235 points to 25,741
- South Korea’s Kospi dropped 68 points to 4,099 after falling over 2% at open
The Bombay Stock Exchange’s Sensex opened sharply lower at 84,891.75 compared to its previous close of 85,267, while the National Stock Exchange’s Nifty mirrored this downward trend, opening at 25,930.05 against Friday’s close of 26,046.95. By 10 AM, the Sensex was trading at 84,860, down 390 points, and the Nifty was at 25,910, down 145 points. The panic selling was widespread, with 28 out of 30 shares in the BSE Largecap index trading in negative territory, indicating broad-based selling pressure across major Indian equities.
Asian Markets in Free Fall
Panic spread across Asian stock markets from Japan to Korea, with the Japan Nikkei Index trading at 50,092.10 in early Monday trading, down 745 points. Hong Kong’s Hang Seng was seen trading at 25,741, down 235 points, while South Korea’s Kospi Index fell 68 points to trade at 4,099 after dropping more than 2% at the opening. In Australia, the S&P/ASX 200 index fell by 0.66%, contributing to the region-wide market rout. The synchronized decline across major Asian indices reflected growing investor anxiety about global economic conditions.
US Markets Join the Downturn
Along with Asian markets, US stock markets also saw significant declines on the last trading day. The Dow Jones closed at 48,479.04, down 245 points, while the S&P Index fell by 1.06 percent, or 73.11 points, to close at 6,848.89. Dow Futures had closed with a gain of 115 points, but this was insufficient to offset the broader market weakness. The negative sentiment in US markets carried over into Asian trading hours, exacerbating the sell-off across the region.
Top Losers Across Market Cap Categories
In the Indian stock market, large-cap stocks saw significant declines during early trading. M&M shares fell by 1.60%, Bharti Airtel dropped 1.10%, and Trent declined by 1.05%. The mid-cap category experienced even steeper losses, with AIACL falling by 2.40%, Endurance shares by 2.35%, and Aegisvopak shares by 2%. Small-cap stocks suffered the most severe declines, with SHK shares plummeting by 7%, Kotic shares by 5%, VLS Finance shares by 4.80%, and Rama Steel shares by 4.70%. The broad-based selling across all market capitalizations indicated deep-seated investor pessimism.
