Biggest Stock Market Crashes On Mondays
It was a 'Black Monday' again in markets yesterday and history shows that seven out of the ten biggest carnages on Dalal Street has taken place on a Monday!
This strange coincidence holds true for biggest crashes in terms of intra-day movements as well as the closing levels of the market benchmark Sensex. The Sensex yesterday closed for the day at 25,741.56, down 1,624.51 points -- marking the biggest ever mauling it has received historically. The second highest closing fall for the markets was also on a Monday, January 21, 2008, when it closed for the day down 1,408.35 points. March 17, 2008, a Monday again, saw a decline of 951.03 points, the third highest and March 3, 2008, which was also a Monday incidentally, saw a fall of 900.84 points, the fourth highest on record. Out of the ten biggest falls at closing levels, seven has been on Mondays, two on Thursdays and one on Tuesday.
In terms of intra-day crashes, yesterday's 1,624 points fall is the third biggest ever since the 2,272 points fall on January 22, 2008 and 2,062 points in January 21 (a Monday). Out of ten intraday fall, six were on Mondays, two were on Fridays, one each on Tuesday and Wednesday.