Stock Market Crash: Rs 6 Lakh Crore Lost in 1 Hour?
It is being established that extreme volatility in the global stock market has created significant tension in the Indian market.
Something pretty extraordinary has happened in the Indian stock market as a significant loss has been locked in a span of one hour in the market. This has turned out to be one of the biggest crashes in the Indian stock market in recent times.
It is being established that extreme volatility in the global stock market has created significant tension in the Indian market.
Subsequently, more than ₹6 lakh crore was wiped away from the Indian stock market in the opening hour of the exchange on Monday, which happens to be one of the biggest crashes in recent times.
The Indian stock market slipped into the deep red on Monday, with the Sensex and Nifty falling around 1% each as soaring oil prices and bond yields, amid the escalating Iran-US conflict, spooked investors.
The Sensex plunged over 900 points to trade below 73,000, while the Nifty 50 dropped more than 250 points to slip below 22,900 level.
The sharp sell-off wiped out nearly Rs 6 lakh crore from the total market capitalisation of BSE-listed companies, bringing it down to around Rs 476 lakh crore.
Along with that, there is a lot of pressure within the Indian market, considering the recent turn of events. The cockroach party has communicated that India will be entering a strike against chief election commissioner Gyanesh Kumar.
Once the agitation begins, it is going to be a matter of time before the financial repercussions are felt at a large capacity.