Stock Market: Sensex fell 1961 points in 4 days, 15 lakh crores drowned, government banks broke up to 10% – rs 15 lakh crore drowned in stock market in 4 sessions
The biggest decline in these sectors
Tata Steel, Tata Motors, SBI and Bajaj Finserv were the biggest losers in the Sensex today. These 3 to 5 percent were broken. Talking about sectoral indices, Nifty PSU Bank fell over 6 per cent. Nifty Media fell 5 percent. Nifty Metal fell 4.47 percent. At the same time, Realty and Oil & Gas broke more than 3 per cent. The Nifty Midcap-50 fell 3.35 percent in the broader market. At the same time, Smallcap-50 declined by 4.66 per cent.
There was a tremendous decline in PSU banks
There was a big decline in public sector banks on Friday, the last trading day of the week. Shares of Indian Overseas Bank, UCO Bank, Central Bank of India and Bank of Maharashtra declined up to 10 per cent on the BSE today. Bank of India, Union Bank of India, Indian Bank, PNB and Punjab & Sind Bank also lost more than 5 per cent. Talking about Yes Bank’s share B, it has fallen 7.92 percent or Rs 1.50 to close at 17.45 today.
These are the main reasons for the decline
Corona growing in China
The new wave of Corona in China has scared investors. The infection rate in China has increased significantly. Bloomberg recently reported that China could see one million corona cases and 5,000 deaths every day. On the other hand, according to another study, this wave of corona can kill one million people in China. Overreaction of investors has been seen in the market on the news of Corona.
US stock market decline
There has been a big decline in the US stock market. US markets fell sharply on Thursday night on concerns of an aggressive interest rate hike by the US Fed. The Dow Jones closed down 1 percent. At the same time, the Nasdaq closed down 2.18 percent.
fear of rising interest rates
There has been an atmosphere of huge increase in interest rates again in America. Good numbers for consumer confidence, unemployment and GDP for the third quarter have surprised. But it means the way has been paved for the US central bank, the Federal Reserve, to hike interest rates further. The growth rate in America in the third quarter was 3.2 percent. This is higher than the estimate of 2.9 percent. The unemployment figure rose marginally to 2,16,000, lower than the estimate of 2,22,000.
