Brief by Shorts91 Newsdesk / 07:46am on 05 Aug 2024,Monday Business
On August 5, 2024, the Sensex and Nifty 50 plummeted over 3% amid rising global and domestic concerns. The Sensex fell from 80,982 to 78,296, while the Nifty 50 dropped from 24,718 to 23,894. This led to a loss of nearly ₹17 lakh crore in market capitalization. Key factors include heightened fears of a US recession due to poor job data, escalating tensions in the Middle East, high valuations in Indian stocks, disappointing Q1 earnings, and technical issues like the Nifty falling below its 20-day moving average.
