New Delhi: The Indian stock market fell sharply on Monday, November 4, 2024, with the benchmark BSE Sensex falling over 1,100 points and NSE Nifty falling over 350 points, both about 1.5% in the red. The Sensex fell 1154.45 points, or 1.45%, to reach 78,569.67, while the Nifty fell 370.30 points, or 1.52%, to reach 23,934.05 as of 10:45 am IST.
The current intraday low for the Sensex was 78,232.60, a drop of 1,491.52 points, or 1.87%, from the previous close of 79,724.12. The current intraday low for the Nifty was 23,816.15. The previous close of 24,304.35 was 488.2 points higher, or 2% lower.
Why did the stock market crash today?
The market was uneasy due to the US elections that were set for Tuesday, November 5, 2024, when the crash occurred. The US Fed’s policy, which in turn affects interest rates in India and around the world, may be influenced by the election results.
The second major reason was the increase in international oil prices. Brent crude futures for January 2025 rose 1.71% to $74.35 a barrel, and WTI futures for December 2024 rose 1.87% to $70.79 a barrel.
Which companies and sectors fell the most after the stock market crash today?
Among Sensex stocks, Sun Pharmaceuticals Industries Ltd. experienced the largest decline, dropping 4.23 percent to ₹1,780.00. A decline of 4.22 percent in NTPC Ltd to ₹394.15, a 3.61% decline in Reliance Industries Ltd to ₹1,290.70, and a 3.59% decline in Adani Ports And Special Economic Zone Ltd to ₹1,344 followed.
Nifty Media experienced the largest decline of any of the NSE’s sectoral indices, falling 3.36%, followed by Oil & Gas at 3.45% and Nifty Realty at 2.89%.
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