NEW DELHI: India’s stock markets faced a sharp crash on Monday, with the BSE Sensex and Nifty50 tumbling more than 4% each. At 12:30 pm, the Sensex had dropped 3,222 points to 72,142.89, while the Nifty50 was down 1,041 points at 21,863.80.
Big names like Tata Steel, Tata Motors, L&T, HCL Tech, and Infosys were among the top losers.
All sectors ended in the red, with technology stocks—many of which depend heavily on US business—falling over 7%. Metal, auto, realty, and oil & gas stocks also took a hit. Smaller and mid-sized companies weren’t spared either, with small-cap and mid-cap indices plunging 10% and 7.3%, respectively.
The sudden market plunge also sparked a flurry of memes on social media, as netizens reacted with humour to the financial chaos. While long-term investors watched in dismay, those who hadn’t invested joined in the laughter.
Here are some of the top memes shared on the social media platform X:
The total market value of companies listed on the BSE dropped by over 20 lakh crore, wiping out a significant chunk of investor wealth.
Experts linked the crash to global uncertainty triggered by new US tariffs under Donald Trump. But some say India’s economy is better shielded, and sectors like finance, aviation, hotels, and digital businesses may weather the storm.
The crash comes ahead of several important events this week, including the RBI’s MPC meeting, TCS earnings, and key inflation data.