Stock market shaken by Trump’s statement, panic among investors of Kanpur; Estimated reduction of Rs 2000 crore in portfolio value.
Kanpur, Read. After US President Donald Trump’s statement regarding the end of ceasefire, there was a tremendous impact on the Indian stock market on Wednesday. Sensex fell 1677 points and Nifty fell 516 points. Selling was also seen in midcap-smallcap shares. There was sudden panic in the market and heavy selling started in the afternoon. At the end of trading, Sensex closed with a huge fall of 1,677 points and Nifty by 516 points. The city’s investors also looked quite worried due to this sharp decline.
According to economic advisor Rajiv Singh, due to this fall in the market, there is an estimated loss of about Rs 2,000 crore in the portfolio value of the city’s investors. Along with big companies, there was pressure in midcap and smallcap shares also. A decline was also recorded in Gold ETF and Silver ETF.
Meanwhile, the price of Brent crude in the international market crossed $78 per barrel, due to which the fear of increase in energy prices and inflation also intensified. If tensions in West Asia increase further and oil supplies from the Strait of Hormuz are affected, crude oil and gas prices may rise further. Due to this, petrol, diesel and cooking gas will become expensive and this may also increase the pressure on inflation.
At present the market is completely under the influence of global developments. At such times, one should avoid taking investment decisions out of panic. Make new investments or trades only when the situation in West Asia and the trend of global markets is clear. Long-term investors should exercise patience while maintaining the quality of their portfolio.
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