New Delhi:
Indian stocks continued to decline rapidly on Monday, as well as Sensex and Nifty About 5 percent of the initial trade crashes, indicating a sharp decline in global equities.
A packet of India’s top 30 companies listed on the Bombay Stock Exchange was lost at 3,939.68 points or 5.22 percent 71,425.01, while NIFTY, National Stock Exchange Index, 1,160.8 points or 5.06 percent fell to 21,743.65.
Alleged collapse 20.16 lakh crore rupees wiped money from investors In early trade.
Other Asian markets also slipped, with Hong Kong’s Hong Seng declining by about 11 percent, Nikkei 225 of Tokyo, nearly 7 percent, the Shanghai SSE Composite Index over 6 percent, and South Korea’s Kospi index fell by 5 percent.
Last week, the sensex drowned 2,050.23 points or 2.64 percent, while the Nifty dropped 614.8 points or 2.61 percent.
Why the Indian stock market is below today
Indian stock market crashes as US President Donald Trump’s tariff hike And China’s vengeance air the shaking of investors amid assurance that a fully developed trade war would affect economic growth worldwide.
President Trump After unveiling the sweeping tariff against US trading partners last week, a market meltdown has been extended. China also said that it will implement 34 percent of the retaliation on all American goods from April 10.
Tight-for-tat moves have now increased concerns for a long time Trade war,
Reuters quoted Kotak Institutional Equity analyst Sanjeev Prasad as saying, “Regardless of the interaction, even if temporary, highlight the growing uncertainty for companies and investors.”
He said, “The performance of Indian markets in the next few weeks will depend on the tariff position and behavior of India’s retail and domestic institutional investors.
VK Vijaykumar, the main investment strategist at Geogit Financial Services, said the market is going through the world level “increased instability due to extreme uncertainty”.
The news agency said by PTI, “There is no clue to anyone how this disturbance will develop due to Trump’s tariff. The wait and the clock would be the best strategy in this turbulent phase of the market,” they were said by news agency PTI.
