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The Indian stock market fell heavily on Monday. Nifty fell 5%, which is the biggest one-day fall after the results of the Lok Sabha elections on June 4, 2024. This horrific sell-off in the market has reminded everyone of the big falls of the past. Such a huge sell-off is being seen in markets across the world due to the fear of recession. The Sensex was also seen trading below 71,500, falling nearly 4,000 points in the morning trade.
There was a huge sell-off in big stocks. Shares of Tata Steel and Tata Motors fell by 9-10%, while big stocks like Reliance Industries, HDFC Bank and ICICI Bank slipped by 4-5%. No big stock was untouched in this sell-off.
Second biggest fall after Covid
This is the second time after the Covid fall of 2020 that Indian markets have fallen more than 5% in a day. Nifty is now 17% down from its peak and is just 1,000 points away from reaching 21,022. If this level is broken, technically the market will enter a recession.
Concerns about tariffs and recession
This fall has happened when there were positive signals for the market. Such as - reduction in dollar index, softening of crude oil prices and reduction in bond yield. These things are usually good for Indian stocks, but this time it is not being seen. The tariff war with America, fear of recession and concerns about reduction in growth along with inflation broke the morale of the investors. Advice for investors Edelweiss' Radhika Gupta reminded us of the time of Covid. She said, "At that time also everything was red, and it seemed that the world would end. My suggestion is - keep an emergency fund with you, stay calm and move forward."
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