Stock Market Crash Today: Fears of recession in the US economy have shaken markets around the world. The Indian stock market is witnessing a huge decline on Monday, August 5. Due to the fear of recession in America, the Sensex opened at 78588.19, down 2393.77 points or 2.96%, while the Nifty 50 also fell 414.85 points or 1.68% to open at 24302.85. In early trade, the Sensex fell 2, 401.49 points to 78,580.46 points, while the Nifty slipped more than 500 points to 24,192.50 points.

At 11:24 am, the BSE Sensex was trading at 78,309.18, down 2,673 points or 3.30%. Nifty 50 was also down 804 points or 3.25% at 23,913.50. Due to this, the total market capitalization of BSE-listed companies has declined by Rs 9.51 lakh crore.

All sectoral indices are trading in the red

Amid all-round selling in the market, all sectoral indices are trading in the red today. Auto, IT, PSU Bank, Fin Service, Realty, Energy and Infra indexes are seeing the most pressure. The auto-realty sector has fallen by more than 3 percent.

Selling in smallcap and midcap stocks as well

Selling pressure is also being seen in smallcap and midcap stocks. The Nifty Midcap 100 index fell 1,677 points or 2.90 percent to 56,236 and the Nifty Smallcap fell 598 points or 3.18 percent to 18,202.

Apollo Hospital and Sun Pharma were among the top gainers on Nifty, while Maruti Suzuki, Tata Motors, Hindalco, Titan Company and Tata Steel were trading in losses.

Almost all markets in Asia are trading in the red. Market experts say that due to the fear of recession in America, a downward trend is being seen in the world markets. 24,300, 24,250 and 24,200 will be an important support for Nifty. At the same time, 24,500 is a strong resistance level.