Stock Market Crash: The Indian stock market is trading with a decline in the afternoon trading session on the last trading day of the week due to a sharp fall in the American stock market. Although the market has shown recovery from the lower levels, its investors are looking away from the market. Sensex is still trading with a decline of 756 and Nifty 231 points.
Rs 5 lakh crore loss to investors
There is disappointment in the Indian market due to selling in the global market. Investors have suffered tremendous losses when the market opens in the morning. The market capitalization of Mumbai Stock Exchange declined by Rs 4.8 lakh crore to Rs 254.83 lakh crore from Rs 259.64 lakh crore.
why the stock market fell
1. On Thursday, the Bank of England warned that the pace of the UK economy may decline in 2023 and the Central Bank has warned of inflation of more than 10 percent, due to which interest rates will be expensive. Might be possible. Anyway, the Bank of England has increased the interest rate to 1 percent.
2, Unemployment in America seems to be increasing. According to the data released, the number of jobless claims has increased to 2 lakh last week. So inflation is at its peak in America. There was a big decline in the trading session of the US stock market on Thursday. Nasdaq closed down 647 points i.e. about 5 percent. Due to the fall in the US stock market, the Asian markets opened in the morning and due to which the Indian market could not escape.
3. LIC IPO is also being seen as a fall in the market. LIC’s IPO is the biggest IPO in the history of the Indian primary market. It is believed from the market that LIC’s IPO can take about Rs 2 lakh crore in cash with it. Due to this, the market is also witnessing a decline.
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