Mumbai, April 07: In a major jolt to investors, the Nifty 50 index crashed over 1,000 points on Monday, mirroring the intense sell-off seen in global markets.
The index opened below its critical March 4 low of 21,964, sparking fears of a deeper correction in the days ahead.
This dramatic fall follows a brutal two-day rout in the US markets, where over $5 trillion in market capitalisation was wiped out. The ripple effects were felt across Asian markets, with Indian equities bearing the brunt.
US President Donald Trump, reacting to the chaos, remarked, “Sometimes medicines need to be taken to fix something,” hinting at potential economic adjustments ahead.
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All eyes are now on two key domestic events: the Reserve Bank of India’s monetary policy announcement today, and the fourth quarter earnings season, which begins with TCS results on April 10.
Technical analysts are now questioning previous support levels, as the index’s breach of 61.8% retracement levels renders earlier projections irrelevant. With sentiment fragile and volatility high, investors are bracing for further shocks.
