When the stock market opened this morning, no one expected such a big shock. Within just 5 minutes, there was such an earthquake on Dalal Street that wiped out Rs 8 lakh crore of investors’ hard-earned money. The sudden deepening of geopolitical tension between Iran and America has set crude oil prices on fire. Brent crude has crossed the dangerous level of $ 112 per barrel. The direct impact of this global panic was visible today on the Indian stock market, where Sensex and Nifty collapsed like a pack of cards.
Domestic market scorched by foreign fire
If there is any major movement in any corner of the world, it has a direct impact on our economy and stock market. The increasing tension between Iran and America has created panic in markets around the world. This wild rise in crude oil prices has scared global investors, due to which heavy selling started. The heat of this global sell-off has badly scorched our domestic market today. On the day of weekly expiry of Sensex, all the sectors of Nifty have crashed.
Sensex took a dive of 1800 points
If we look at the figures of decline, the seriousness of the situation can be estimated. BSE Sensex took a huge dive of about 1800 points (2.35%) and fell to the level of 74,869. At the same time, Nifty 50 is also struggling at the level of 23,238, falling 532 points (2.23%). This fall is all the more painful because just a day earlier, on Wednesday, the market was bright. Then Sensex jumped by 633 points and closed at 76,704 and Nifty closed at 23,777 with a gain of 196 points. That happiness of yesterday has been completely ruined today.
Fear of selling everywhere
Along with big stocks, there is a huge selling storm in midcap and smallcap stocks also. All the 30 leading stocks included in Sensex are trading in the red. The banking and infrastructure sector has suffered the most, where shares of strong companies like HDFC Bank, Axis Bank and Larsen & Toubro (L&T) have fallen.
Out of 2006 shares being traded today, 1390 shares are victims of huge fall. Under this pressure, only 469 shares have been able to keep themselves in the green, while there was no change in the prices of 147 shares. Apart from this, while 12 shares reached their one-year high, 40 shares slipped to their one-year low.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsh advises its readers and viewers to consult their financial advisors before taking any money related decisions.