On November 7, 2024, the Indian stock market experienced a significant downturn, with the Sensex plummeting by 836 points to close below 80,000, while the Nifty fell to 24,199. This decline was attributed to heavy selling across all sectors, except for public sector banks, ahead of a key meeting by the U.S. Federal Reserve. Investors faced substantial losses, with an estimated Rs 4.5 lakh crore wiped out from the market. The downturn continued into November 8, with Reliance Industries (RIL) trading at a 10-month low, down 20% from its July peak, and experiencing multiple block deals. On November 8, the Sensex ended the session 55 points lower, with RIL and State Bank of India contributing to the decline amid ongoing foreign fund outflows.