This week is proving to be very disappointing for those investing in the Indian stock market. Investors had not yet recovered from the shock of the huge fall in the market on Thursday that on the morning of Friday, March 13, the market crashed badly. The market screens colored in red were enough to show that selling pressure is still dominant.
Indices fell heavily as soon as they opened
As soon as the market opened, the indices slipped with a big ‘gap-down’. At exactly 9:21 am, the main index Sensex of Bombay Stock Exchange (BSE) fell by a huge dive of 672.13 points to the level of 75,362.29. In percentage terms, it was a decline of 0.88 percent, which is considered quite big in terms of initial trading. At the same time, Nifty 50 of National Stock Exchange (NSE) also disappointed the investors. Nifty fell sharply by about 205 points or 0.86 percent and reached the level of 23,430.40. This huge fall created a negative atmosphere in the market from the very beginning.
Why are investors nervous?
The unexpected rise in international crude oil prices has increased the concern in markets around the world. Along with this, the situation of war taking place at the international level has taken global uncertainty to its peak. Crude oil is very important for a country like India, because our economy is largely dependent on its import. When oil is expensive, companies’ manufacturing and transportation costs increase. This has a direct impact on their profits and in the future, it can cause increase in inflation for the common man. Due to this fear, investors are getting nervous and withdrawing their money.
There is chaos in every sector
The most special thing about today’s decline is that it is not limited to any one area. Almost all major indices were seen struggling in the red in early trade. There was heavy selling in automobile, consumer durables, media and realty sectors. Apart from this, huge pressure was also seen in the shares of companies related to metal, public sector (PSU) banks, defense and manufacturing.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money-related decisions.