Mumbai: In the early business hours on Monday, the stock market crashed upon after being dragged down by real estate, financial services, and consumer durables stocks.
At 11:32 am IST, SENSEX was down by over 581.63 points at 0.75%, reaching 76,797.27. Around 9am IST, the benchmark BSE Sensex tumbled by 677.22 points or 0.88%, reaching 76,701.69. At one point, Sensex had crashed by over 700 points earlier in the day.
The broader NSE Nifty was down by 212.90 points or 0.91%, reaching 23,218.60, around 9am IST.
This also comes with the rupee hitting an all-time low of 86.3537 per dollar, according to Bloomberg. Experts claimed that the US dollar is currently rallying because of positive jobs data.
Which stocks fell the most?
Among the 30 Sensex stocks, Zomato Ltd fell the most by 2.86%, trading at ₹236.05 during the early hours. It was followed by Mahindra & Mahindra Ltd, which fell 2.13% and Power Grid Corporation of India Ltd, which fell 2.07%.
Only 2 Sensex stocks were in the green zone around 9am IST. IndusInd Bank Ltd stocks rose by 2.05%, trading at ₹956.80 and Axis Bank Ltd was up by 0.44%, trading at ₹1,045.40.
How will be the recovery ahead?
According to Emkay Global—as mentioned in its latest strategy note—the domestic stock market could remain weak till March and that a stability is likely from April. Consumption should bounce back from the second half of 2025, the firm claimed.
