Due to the big fall in the Indian stock market, Sensex fell by 2,179 points and Nifty by 678 points, due to which investors lost Rs. 13 lakh crores. Tension in the Gulf, expensive crude oil and selling by foreign investors were the main reasons for this decline. Banking and IT sectors were most affected.
Mumbai: Today there was an earthquake in the Indian stock market. As soon as trading started, the Sensex fell 2,179 points to 76,739. At the same time, Nifty also fell by 678 points to reach 23,772. Due to this tsunami in the market, investors lost more than Rs 13 lakh crore. Nifty has fallen 5.8% so far from its highest level in January.
3 big reasons for market decline
Fear of war in Gulf countries: The increasing tension in the Middle East has created an atmosphere of fear in the stock markets around the world. Investors fear that if the war escalates, the global economy will be adversely affected, so they are withdrawing their money from stocks.
Boiling Crude Oil: Due to the fear of stopping the oil supply due to war, crude oil has become costlier by about 25% in just a week. The price of Brent crude has crossed $115 per barrel. This is a big blow for countries like India which import oil. Due to increase in oil prices, the risk of inflation in the country has also increased.
Foreign investors are selling shares: In view of the uncertainty in the market, foreign investors are continuously selling Indian shares. His selling deepened the decline.
These sectors were most affected
The biggest impact of this huge decline was seen on the banking, IT, metal and construction sectors. A huge fall was also recorded in the shares of many big companies. Let us see which big stocks fell the most.
State Bank of India: fell 6.7%
Indigo: down 6.6%
Maruti Suzuki, Mahindra & Mahindra, JSW Steel: 5% to 5.2% decline
Larsen & Toubro, Asian Paints, Tata Steel: Fall of more than 4%