The NIFTY 50 crashed by 13% on 23rd March, which was the biggest single day fall in history.
Never before has the NIFTY witnessed such a big crash on a single day.
The last crash of similar magnitude occurred after the election results of 2004 was announced.
The Sonia Gandhi-led Congress delivered an unexpected result in the General elections and became the single-largest party – beating Atal Bihari Vajpayee’s BJP.
When the market opened on Monday, it crashed by a record margin 12.24%.
The 2008 financial crisis came close to beating the 2004 fall, but fell just short.
2020 finds a mention three times in the list, equalling 2008.
All the three major crashes this year have been in March 2020, when the impact of the Coronavirus caused most parts of the world to completely shut down.
The markets are discounting possible recession, with some economists believing this could be a once-in-a-century event similar to the Great Depression which began in the 1929 and ended nearly a decade later.
|1||23 Mar 2020||1,135.20||-12.98%|
|2||17 May 2004||193.65||-12.24%|
|3||24 Oct 2008||359.15||-12.20%|
|4||21 Jan 2008||496.50||-8.70%|
|5||12 Mar 2020||868.25||-8.30%|
|6||14 May 2004||135.10||-7.87%|
|7||16 Mar 2020||757.80||-7.61%|
|8||4 Apr 2000||106.65||-6.95%|
|9||18 May 2006||246.20||-6.77%|
|10||11 Nov 2008||209.60||-6.66%|
The data above was last updated on 25 March 2020. The list of NIFTY Biggest Single Day Falls will be updated if the index falls more than 6.66%.
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