It was bloodbath at the Indian stock markets on May 22 like never before. The Sensex -- the benchmark 30-share sensitive index of the Bombay Stock Exchange -- plummetted by a nerve-rattling 1,111.71 points in intra-day trading. This is the largest fall in a single day ever witnessed in the history of the Indian stock markets.
The bloodbath at the markets ended with the Sensex losing 457 points to close at 10,482.
The Nifty lost 166 points to close at 3,081.
Trading was suspended in the market for an hour as the market has hit the lower 10% circuit.
The crash followed a statement by Central Board of Direct Taxes seeking to dispel suggestions that its draft circular was ambiguous.
Here are the 10 biggest falls in the Indian stock market history:
1. May 18, 2006: The Sensex registered a fall of 826 points (6.76 per cent) to close at 11,391, it's biggest ever, following heavy selling by FIIs, retail investors and a weakness in global markets.
2. April 28, 1992: The Sensex registered a fall of 570 points (12.77 per cent) to close at 3,870, it's second-largest, following the coming to light of the Harshad Mehta securities scam.
3. May 17, 2004: Another Monday. Sensex dropped by 565 points, its third biggest fall ever, to close at 4,505. With the NDA out of power and the Left parties, part of the UPA coalition government, flexing their muscle, the Sensex witnessed its second-biggest intra-day fall of 842 points, twice attracting suspension of trading. At close, however, it regained some of its lost ground.
4. May 15, 2006: The market fell by 463 points to 11,822 points.
5. May 22, 2006: Sensex slumped by 457 points to 10,482.
6. May 19, 2006: Sensex slumped by 453 points to 10,939.
7. April 4, 2000: Sensex slumped by 361 points to 4,691.
8. May 12, 1992: Indian stock markets plunged 334 points to fall to 3,086.
9. May 14, 2004: Sensex lost 330 points to fall to 5,070.
10. May 6, 1992: Losing 327 points, the Sensex fell to 3,561 points.
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