SENSEX, NIFTY see biggest fall in 5 months; these are the biggest market one-day declines in the last 1 year

The Indian equity benchmarks posted their worst single-day performance in over five months on Friday, February 28. The markets across Asia witnessed deep cuts after US President Donald Trump on Thursday said his proposed 25% tariffs on Mexican and Canadian goods will take effect on March 4 along with an extra 10% duty on Chinese imports.

The markets have been on a downward spiral for quite some time now. The NIFTY50 index fell for the fifth straight month in February, marking its longest losing streak since 1996. In February alone, the NIFTY50 declined nearly 6%, data from the National Stock Exchange showed.

Here is a look at the biggest single-day falls in the last one year:

Moreover, foreign institutional investors started directing their funds to China amid its attractiveness, which also added to the selling pressure.

The reduced number of seats in Lok Sabha meant the BJP would have to seek support from NDA members. But after forming the government at the centre, the markets staged a smart recovery and recouped most of the losses incurred on June 4.