Sensex and Nifty logged their biggest losses ever as lockdowns across the country took a heavy toll on financial markets. While Sensex lost 3,934 points to close at 25,981, Nifty closed 1,135 points lower at 7,610. Sensex also hit a fresh intraday low of 25,880 and Nifty fell to 7,583. All Sensex and Nifty stocks closed in the red.
Since its all time high of 42,273.8 recorded on 20 January, the benchmark index has lost 38.83%. In fact, March 2020 has proven to be the worst month for Sensex in the last 12 years. Sensex has lost 12,416 points or 32.4% during the month. Rs 58 lakh crore investor wealth has eroded since its peak.
Sensex and Nifty halted trading on Monday for the second time this month. Within minutes of opening, investors lost Rs 7.90 lakh crore. The fall of 10% (2,991 points) in Sensex in early trade triggered circuit breaker at 9:58 am. Trading was brought to halt for 45 minutes as per the rule. Nifty too declined 9.40% or 822 points to 7,923 in early trade. At 12:01 pm, Sensex was trading 3,417 points lower at 26,498 and Nifty was down 1,002 points to 7,743.
By the closing bell investors had suffered a hefty loss of Rs 14 lakh crore. All 19 sectoral indices ended in the red with banks and financial indices losing the most. Top stocks like Axis Bank, IndusInd Bank, SBI, Titan, Infosys, ICICI Bank, HDFC Bank, Tata Steel, Reliance Industries, ONGC, Tech Mahindra, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, Maruti Suzuki and Bajaj Auto traded near their 3-year lows on Sensex. Market breadth was highly negative with 232 stocks ending in the green against 2,037 closing in the red.