Owing to concerns about the financial crisis of the world economy, markets across the globe witnessed a steep fall. On Thursday, 4 August, the S&P, Nasdaq and Dow Jones index dipped 4-5 percent on fears about the health of the US economy, and Indian stock markets like the BSE Sensex and Nifty were not too far behind as they opened lower by around 3 percent on Friday, 5 August.
Amidst all the concerns, the 500-odd points fall in the Sensex is not as steep a fall if one compares it with the falls in the past. Firstpost did an analysis to check the top 10 biggest dives in the history of the Sensex (refer table).
2008 was a bad year for the markets as the Sensex reported some of its major falls during that year.
Order of crashes are in absolute numbers
• 21 January, 2008 — This day marked the highest fall in the history of Sensex as it declined 1,408 points on the back of investors selling owing to fears about fears that the US may be headed for a recession.
• 24 October, 2008 — Markets declined 1070 points to close at 8701 points as the RBI left key interest rates unchanged and lower the GDP target to 7-5 percent for 2008-09.
• 17 March, 2008 — The Sensex crashed 951 points to close at 14,809 points on concerns about global markets.
• 3 March, 2008 — Major sell off by funds, budget related concerns and fears about the US heading for a recession led to a 900 points in Sensex to 16,677 points.
• 22 January, 2008 – Sensex declined by 875 points to close at 16,729 points. Trading was suspended for an hour at the BSE as crashed by 10 percent.
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