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Data | Where does the March 9 market crash rank among the biggest falls in Sensex history?

The unprecedented crash came amid fears of a meltdown of global markets due to the COVID-19 outbreak

March 11, 2020 07:45 pm | Updated December 03, 2021 06:51 am IST

Naresh Singaravelu
A stockbroker reacts as he watches the Bombay Stock Exchange (BSE) index on a trading terminal in Mumbai, India, Monday, March 9, 2020.

A stockbroker reacts as he watches the Bombay Stock Exchange (BSE) index on a trading terminal in Mumbai, India, Monday, March 9, 2020.

The Indian benchmark Sensex witnessed its biggest ever fall in absolute terms on Monday , March 9. The crash came amid fears of a global market slowdown due to the COVID-19 outbreak .

Among the factors that led to the unprecedented crash is a weakening rupee. The Monday meltdown in the Sensex was accompanied by steep falls in many global markets.

Also read: Editorial | Market mayhem: on Sensex single-day fall

Sensex drops in absolute terms

The chart plots all single-day Sensex falls of over 400 points. The benchmark index witnessed its biggest single day fall on absolute terms, of 1941.67 points, on Monday.

image/svg+xml0-500-1000-1500-200019851990199520002005201020152020Aug. 24, 2015:Sensex dropped 1,624 points owing to astalling Chinese economy and a slump in crude oil pricesJan. 21, 2008:Sensex tanked by1,408 points following signs of aglobal recession-1,941.67
 

Also read: Editorial | Viral economies: On coronavirus impact

Sensex drops in percentage terms

The chart plots all single-day Sensex falls of over 3%. On Monday, the Sensex fell 5.17%, the biggest crash in percentage terms in the last five years.

image/svg+xml-4-6-8-10-1219851990199520002005201020152020-5.17%April 28, 1992:The biggestdrop in % terms(12.7%) after theHarshad Mehtasecurities scamwas unearthedMay 17, 2004:Sensex fell by 11.14%at the cusp of change in governmentOct. 24. 2008:BSE fell by10.96% amidthe globalfinancial crisis
 

Weakening rupee

The chart plots daily closing values of the Indian rupee against the U.S.$ since 1994. The rupee closed at a 16-month low on Monday.

image/svg+xml3545556575Jan. 1994Dec. 2008Mar. 202073.95Exchange rate
 

Also read: Analysis | Coronavirus pits Russia, Saudi Arabia and the U.S. — world’s top energy producers — in a destructive price war

Global markets fall

The Sensex crash as global markets are tumbling across Americas, Europe and Asia. The graphs shows fall on Monday in % terms.

image/svg+xmlIndexChange (%)Euro Stoxx 50, Eurozone-8.33%Dax, Germany-7.89%FTSE 100, U.K.-7.88%S&P 500, U.S.-7.29%BSE Sensex, India-5.17%Nikkei 225, Tokyo-5.07%Hang Seng, Hong Kong-4.23%CSI 300, Shanghai-4.23%Kospi, S. Korea-4.19%
 

Source: BSE Sensex, Bloomberg, IMF

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