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Spectacular rise & fall: Markets hit record high then crack

May 23, 2019 17:28 IST

In a shocker, benchmark indices saw the biggest intraday fall in 11 years on profit-booking as Sensex and Nifty erased all gains despite trends indicating BJP-led NDA returning to government with a bigger mandate. Amid volatility and global weakness, Sensex nosedived 1,314 points closing with deep cuts after hitting 40,125 while Nifty failed to hold on to 12,000 mark dropping 384 points to settle below 11,700 points. The slump was led by Nifty Bank that crashed nearly 1,300 points from record high to post its biggest fall as the volatility index also saw its biggest one-day fall since 2014 poll result day. Broader markets also ended flat while the market breadth tilted in favour of declines.

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