Stock Market Crash: An atmosphere of fear… the market crashed as soon as it started; Big impact after Modi’s call on gold, petrol-diesel?

• Sensex, Nifty both indices fell a lot
• A result of exactly what causes?
• An atmosphere of fear in the stock market

Stock Market Crash: On the very first trading day of the week i.e. Monday, the stock market saw a big fall as soon as it started. As soon as the market starts functioning Sensex, Nifty Both these indices fell sharply. If we think about the exact impact of all these, a long list will come up. But its origin is based on current world events.

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A result of exactly what causes?

The failure to reach a peace deal between the US and Iran has led to a surge in crude oil prices, putting pressure on the market. Also, in the wake of tension in the Middle East, Prime Minister Narendra Modi’s call to avoid buying gold and save on petrol and diesel also added to the fear in the stock market.

The Bombay Stock Exchange’s 30-share ‘Sensex index opened with a steep fall of 944 points from its previous close; On the other hand, the National Stock Exchange’s ‘Nifty’ index also fell by 275 degrees early in the market. So the market fell down.

Indices fall sharply as market opens

BSE Sensex opened at 76,638. which was at its previous closing level of 77,328. So this represents a big drop. In just a few minutes, the decline increased further. In the first five minutes of trading, the BSE Sensex plunged 944 points to 76,363.

Turning to the NSE’s ‘Nifty’ index, its performance was seen to be similar to that of the ‘Sensex’. The 50-share index opened sharply lower at 23,970. Its previous closing level was 24,176. After that, it fell further by 275 points to reach the level of 23,895.

An atmosphere of fear in the stock market

There are not only one, but many major reasons behind this huge fall in the stock market. In fact, the main reason for this decline is being looked at a statement made by Prime Minister Modi. In this statement, he appealed to the citizens of the country to avoid buying gold, and to save on petrol and diesel. Prime Minister Narendra Modi mentioned that there is currently a conflict going on in our neighboring region and the effects of this situation are being felt by the whole world including India. He appealed to the public not to buy gold for a period of one year and prioritize saving fuel.
The prospect of peace talks between the US and Iran appears to have faded once again. As a result, there has been a huge increase in crude oil prices in the international market. Brent crude oil prices rose more than 3 percent in a single session; Due to this increase in prices and along with it increasing global tension and fear of rising inflation, there has been a huge selling pressure on the stock market. Therefore, its effect is seen in the form of decline.

Red color is spread everywhere in the market

After Monday’s market decline, across the board, from ‘large-cap’ to ‘small-cap’ stocks on the BSE, the entire market was bearish, i.e. in the red. Major stocks like TCS, Infosys, Tech Mahindra, Sun Pharma, Tata Steel, ICICI Bank, Kotak Bank and ITC were seen trading in the ‘red zone’.

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