SENSEX, NIFTY50 plunge, NIFTY Bank drops over 1,000 pts; 5 factors behind Monday’s market crash

The volatility gauge, India VIX, surged as much as 16.3% to an intraday high mark of the 14.15 level on Monday, following a crash in the equity benchmark indices. The Indian equity benchmark indices crashed on Monday, September 28, dragged by banking stocks while investors remained cautious amid surging bond yields in the United States and rising crude prices.

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The S\&P BSE SENSEX and NSE NIFTY50 declined 1.4% each to their intraday low of 23,948.91 and 22,807.55 levels, respectively. Both the benchmark indices were trading at their six-month low level.

As many as 48 stocks on the 50-share index were trading in red. Adani Enterprises, Tata Consumer Durables, Tata Motors Passenger Vehicles, Bajaj Auto and Bharat Electronics were the top laggards at the time of writing the article.

The overall market breadth was extremely negative as 2,360 shares were falling while 708 were advancing on the NSE.