Nithin Kamath to Shankar Sharma: How stock market mavens reacted to today's Sensex crash

The stock market crash on Monday was nothing short of a bloodbath as all indices - be it benchmarks, broader or sectoral - faced a severe selloff.

Investors rushed for cover as the manic selloff dragged both Sensex and Nifty to their lowest levels in seven months. The Sensex tumbled 1.36%, settling at 76,330.01, while the Nifty plunged 1.47%, ending the day at 23,085.95. But it wasn’t just the blue-chips that suffered, retail-favourite mid-cap and small-cap stocks were in even deeper trouble, sinking by a staggering 4% each. Concerns around fewer Fed rate cuts, slowdown in corporate earnings, FPI selling and a strong US dollar were among the factors that weighed on investors' sentiments.

Today's crash also wiped out a massive ₹13 lakh crore from investor wealth, leaving many with lighter pockets and grim faces.

Against this backdrop, some of Dalal Street’s most well-known figures, including Zerodha's Nithin Kamath, Shankar Sharma, and Deepak Shenoy, shared their reactions on the stock market fall, offering a mix of humour, candidness and some advice.

The founder and CEO of Zerodha Nithin Kamath reacted with a grimacing face emoji and shared a screenshot showing how a majority of the niche sectors were in the red, reflecting the widespread carnage in the Indian stock market. Kamath's post, on social media platform X, underscored the severity of the sell-off, as no sector was spared from the downturn.

His post also highlighted that the selloff was not just restricted to today but the slide has been steady, with most indices down significantly from one-year high levels too.

While Kamath's post might have left some nervous about the extent of the fall, ace investor Shankar Sharma took a more humourous approach to today’s stock market action.

"Lost my shirt in the market today," tweeted Shankar Sharma following Sensex's 1000-point crash. His post highlights that stock market corrections spare no one, even seasoned investors like Sharma, making a case for risk management and a long-term investment strategy.

Silver Lining

Capitalmind's founder and CEO Deepak Shenoy made a case for using such a crash to your advantage. "Markets are brutal sometimes, but strong down days are usually a good sign of capitulation. If you're in the investing phase of your life, such corrections will provide opportunities," Shenoy said. For long-term investors, these moments could present buying opportunities, allowing them to add quality stocks at discounted prices, suggested his post on X.

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