There was a bloodbath in the stock market today with the benchmark Sensex suffering a plunge of 704 points -- its biggest one-day fall in over 26 months.
Today’s fall is the 12th biggest since January 2008 -- when the market benchmark Sensex had scaled its life-time peak before embarking on a downward journey interspersed with many huge falls, although there were also some periods of gains.
The Sensex had scaled its all-time high of 21,206.77 points on January 10, 2008. Since then, the index has seen a 700-plus fall on 12 days so far, including in today’s trade.
There were nine such days in the year 2008, two in 2009 and one so far in 2011. Out of these, most have been due to global economic worries.
Today’s fall of 704 points was the biggest since a plunge of 869.65 points on July 6, 2009.
Here are the 12 biggest single-day falls of the Sensex since January 2008:
1. January 21, 2008: Sensex plunged by 1,408.35 points -- the biggest one-day loss so far -- due to deepening global economic worries.
2. October 24, 2008: Sensex lost 1070.63 points after RBI lowered its GDP growth forecasts on global economic concerns.
3. March 17, 2008: Sensex dropped by 951.03 points on the global credit crisis and distress—sale of US banking major Bear Stearns.
4. March 3, 2008: The Sensex lost 900.84 points on concerns emanating from growing credit losses in the US.
5. July 6, 2009: The index plunged by 869.65 points on the day of Union Budget presentation in Parliament on concerns over high fiscal deficit. This was the biggest Budget-day loss for the Sensex.
6. February 11, 2008: The market benchmark lost 833.98 points on a day when Reliance Power fell below its IPO price in its debut trade after a high-profile public offer.
7. October 10, 2008: Sensex dropped by 800.51 points amid weak industrial production data and concerns over impact of global economic crisis on IT and banking firms in India.
8. March 13, 2008: The index plummeted by 770.63 points on global economic jitters.
9. January 7, 2009: The market barometer dropped by 749.05 points on a day when the Satyam fraud came to light.
10. March 31, 2008: The index shed 726.85 points after heavy selling in blue-chip stocks on global economic fears.
11. October 6, 2008: The index went spiralling down 724.62 points amid fears of the US recession and attempts by governments across the world to save their failing banks.
12. September 22, 2011: The Sensex lost 704 points on fresh fears of a global economic slowdown and a fall in rupee value to lowest in two years.
