The Sensex crashed by over 1000 points on Thursday, May 9, while the Nifty broke the 22,000 mark. Here are the top 3 reasons why the Indian stock market experienced a massive fall on Thursday.

Why Sensex crashed over 1000 points

Sajjan Jindal-led JSW Steel on Friday said its consolidated crude steel production rose by 2.3 per cent to 7.03 million tonnes (MT) in the third quarter of the current fiscal.
The company's steel output was 6.87 MT in the year-ago period, JSW Steel said in a filing to BSE.
The company's Indian operation's crude steel production rose by 3 per cent to 6.82 MT, over 6.63 MT in the year-ago period, the filing said.
Capacity utilisation at Indian operations excluding trial run stood at 91 per cent for the third quarter of the ongoing financial year.
"Production and capacity utilisation for the quarter was affected due to temporary maintenance activity at one of the Blast furnaces at Dolvi in the month of October, which resumed normal operations in the first week of November," the company said.
JSW Steel's 5 million tonnes per annum (MTPA) integrated steel project at Vijayanagar, set up by wholly owned subsidiary of the company, JSW Vijayanagar Metallics Ltd (JVML), is progressing ...

The company's Indian operation's crude steel production rose by 3 per cent to 6.82 MT, over 6.63 MT in the year-ago period, the filing said

Real estate company Godrej Properties Ltd on Friday said it has acquired 24-acre land in Indore to develop residential plots and expects around Rs 500 crore revenue from this upcoming project.
In a regulatory filing, Godrej Properties informed it has acquired about 24-acre of land in Indore.
The company did not divulge the total cost of the land parcel.
"The project will have an estimated revenue potential of around Rs 500 crore,"  Godrej Properties said
The development on this land will primarily comprise premium plotted residential units and will offer an estimated saleable area of around 6.20 lakh square feet.
After acquiring 46-acre in July 2024 on Indore-Ujjain Road, this will be the company's second acquisition in Indore.
Gaurav Pandey, MD & CEO, Godrej Properties, said the company has expanded its presence in Indore with this land acquisition.
"With residential plotted developments gaining momentum, the Indore bypass road presents a promising opportunity for us to expand.

After acquiring 46-acre in July 2024 on Indore-Ujjain Road, this will be the company's second acquisition in Indore

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The Punjab government has formally rejected the Centre's draft policy on agricultural marketing, asserting that it is an attempt to bring back the "contentious" provisions of the three farms laws repealed in 2021 after a year-long protest by farmers.
The state government noted that since agriculture marketing is a state subject, the government of India should not come up with any such policy and should leave it to the wisdom of the state to frame suitable policies on the subject as per their concerns and requirements.
The Centre had last year shared the draft of the National Policy Framework on Agricultural Marketing with the state government for its views on it.
Punjab Chief Minister Bhagwant Mann had already said the Centre was trying to "bring back" the now-repealed farm laws, referring to the draft of the National Policy Framework on Agricultural Marketing.
The AAP-led Punjab government had termed the draft policy as an attempt to reintroduce the three central agricultural laws

Punjab Chief Minister Bhagwant Mann had already said the Centre was trying to 'bring back' the now-repealed farm laws, referring to the draft of the National Policy Framework on Agricultural Marketing

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The official said around 35,000 customs cases, involving over around Rs 50,000 crore are currently pending across various courts

In a significant reshuffle within the Finance Ministry, senior IAS officer Arunish Chawla has been reassigned from his position as revenue secretary to head the Department of Investment and Public Asset Management (DIPAM), a move which comes three weeks ahead of the Union Budget.
DIPAM secretary Tuhin Kanta Pandey has been appointed as the new revenue secretary in place of Chawla, according to a personnel ministry order. Pandey is also the finance secretary.
The changes come at a time when the Finance Ministry is working on the the Union Budget, scheduled for presentation on February 1. Wednesday's reshuffle is seen as the government's strategic adjustments as it gears up for the crucial financial planning period ahead.
Chawla, a 1992-batch Indian Administrative Service (IAS) officer of Bihar cadre, was appointed as the revenue secretary only on December 25 last year. He was then working as the Secretary, Department of Pharmaceuticals.
He will also hold additional charge of the pos

DIPAM secretary Tuhin Kanta Pandey has been appointed as the new revenue secretary in place of Chawla

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Why Sensex crashed over 1000 points

The Sensex crashed by over 1000 points on Thursday, May 9, while the Nifty broke the 22,000 mark. Here are the top 3 reasons why the Indian stock market experienced a massive fall on Thursday.

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