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Stock Market Plunges on Mahanavami: Sensex Drops 538 Points, Investors Lose Rs 3.23 Lakh Crore
- •Indian stock markets experienced a sharp decline on October 19 during Mahanavami after two consecutive sessions of gains.
- •The Sensex dropped up to 538 points to a low of 74,191.21, while the Nifty fell over 175 points to 22,970.50.
- •The total market capitalization of BSE-listed companies decreased by Rs 3.23 lakh crore to Rs 4,70,22,982.02 crore.
- •Key stocks to watch out for during the volatile session include Axis Bank, Yes Bank, HDFC Bank, RailTel, and Zen Tech.
- •The Indian rupee strengthened by 9 paise to 94.80 against the US dollar in early trade, supported by RBI interventions.
Key Questions Answered
Indian stock markets experienced a sharp fall on Mahanavami, October 19, 2026, with the Sensex tumbling 538 points to a low of 74,191.21 and investor wealth eroding by over 3.23 lakh crore rupees. This followed selling pressure and concerns over second-quarter financial results in private banking stocks like HDFC Bank.
The Indian rupee strengthened by 9 paise to reach 94.80 per dollar in early trade on Monday, supported by structural interventions from the Reserve Bank of India in the foreign exchange market. This marked a seven-month high growth for the domestic currency, though elevated crude oil prices remained a key challenge.
Market participants closely monitored key banking and technology equities on October 19, including Axis Bank, Yes Bank, HDFC Bank, RailTel, and Zen Tech, amidst expectations of significant volatility and choppy trading sessions.
