The Sensex, India’s benchmark stock index, opened sharply lower on Monday. The index has frequently experienced significant declines, often due to global and domestic economic events. The five largest intraday drops in the history of the Sensex include the day of election results on June 4, 2024, and four occurrences during the pandemic.
On June 4, 2024, the most recent and one of the steepest declines happened when the Sensex plummeted to an intraday low of 70,234.43 points. The market opened at 76,285.78, experiencing a dramatic drop of 6,051.35 points, or 7.93%, before closing at 72,079.05. This sharp decline was driven by the uncertainty following the election outcome, with no Indian political party securing a majority in the parliamentary elections.
On March 23, 2020, the Sensex fell to an intraday low of 25,880.83 points, reflecting panic induced by the COVID-19 pandemic. The market opened at 27,608.80, experienced a significant drop of 1,727.97 points, or 6.23%, to the intraday low, and closed slightly higher at 25,981.24. This period marked one of the most volatile times in recent market history.
Just a week earlier, on March 16, 2020, the Sensex experienced another major drop, falling to an intraday low of 31,276.30 points. The index opened at 33,103.24 and witnessed a decline of 1,826.94 points, or 5.51%, as the day’s low, closing at 31,390.07. The ongoing uncertainty due to the pandemic and its economic impact caused severe market reactions.
On March 13, 2020, the Sensex faced a significant intraday fall, reaching a low of 29,388.97 points. The market had opened at 31,214.13 and plunged by 1,825.16 points, or 5.84%, but managed to recover somewhat by the close, ending the day at 34,103.48. The day’s volatility was marked by global market sell-offs and fears of a global recession.
A day earlier, on March 12, 2020, the Sensex dropped to an intraday low of 32,493.10 points. The index opened at 34,472.50 and saw a fall of 1,979.40 points, or 5.74%, before closing at 32,778.14. This decline was part of a series of losses as investors reacted to the rapid spread of COVID-19 and its economic repercussions.