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Mayhem in stock market! Investors lose Rs 7.93 lakh crore in three days, gold at new peak
The market capital of companies listed in BSE has declined from Rs 402.17 lakh crore to Rs 394.26 lakh crore. On the other hand, the rupee has reached the abyss. The price of one dollar has become Rs 83.53.
Due to the threat of Israel-Iran war and rising bond yields, there is an outcry in the stock markets around the world including India, the rupee has fallen to an all-time low against the dollar, while gold is roaring. On Tuesday, the Sensex fell 456 points and closed at the level of 72,943. Whereas Nifty fell by 125 points and remained at the level of 22,148. In the last 3 trading days alone, Sensex has fallen by more than 2000 points and Nifty has fallen by 2.58 percent, due to which investors have lost Rs 7.93 lakh crore.
The market capital of companies listed in BSE has declined from Rs 402.17 lakh crore to Rs 394.26 lakh crore. On the other hand, the rupee has reached the abyss. The price of one dollar has become Rs 83.53. On Tuesday, the rupee weakened by 9 paise against the dollar and reached its lowest level. Whereas gold, being a safe investment option, has reached a new peak due to geopolitical tensions. In Jaipur, 24 carat gold per 10 grams reached Rs 75,150 and in Indore it reached an all-time high of Rs 75,100.
Stock markets fell so much in 3 days
Indexes freefall
Sensex (India) -2.81 percent
NASDAQ (USA) -3.30 percent
Nikkei (Japan) -3.24 percent
Hang Seng (Hong Kong) -5.10 percent
CAC (France) -2.52 percent
DAX (Germany) -2.25 percent
FTSE (UK) -2.70 percent
Gold became costlier by Rs 4800, silver by Rs 8500 in April
Date gold silver
01 April 68,663 75,111
05 April 69,882 79,096
08 April 71,074 81,496
12 April 72,967 83,819
16 April 73,514 83,632
10 gram 24 carat gold, per kg silver prices in rupees, average price of bullion markets across the country, Source: IBJA)
Geopolitical tensions could hurt IT, exports, pharma and many banking stocks. Due to increasing tension between Iran and Israel, the possibility of decline in many domestic stocks of various sectors has increased. Shares of TCS, Infosys, Adani Ports, Sun Pharma, Lupine, SBI, Wipro, Tech Mahindra, NMDC, Kalyan Jewellers, Titan and Larsen & Toubro may be affected, as all of them have presence in Israel.