Stock market crash due to Russia-Ukraine war: Sensex falls by 1700 points
The stock market is currently experiencing a significant drop as a result of the Russo-Ukraine conflict. The Bombay Stock Exchange (BSE) Sensex fell 1,700 points in the first minute to 55,563. The value of banking stocks is plummeting. A loss of Rs 7 lakh crore has been incurred by investors. The market capitalization of Sensex companies is Rs 248.18 lakh crore, down from Rs 255 lakh crore the day before.
Markets have collapsed as a result of the conflict between Russia and Ukraine.
Russia has indeed declared war on Ukraine. As a result, all of the world’s stock markets are in decline. The Sensex was down 1,814 points today, closing at 55,416. In the first hour, it reached a high of 55,984 and a low of 55,375. Its 30 shares are all falling in value. Tata Steel, UltraTech Cement, Airtel, IndusInd Bank, and ICICI Bank were among the major losers, each losing more than 3%.
At 11 a.m., here is the status of all 30 Sensex stocks.
Wipro and Tech Mahindra were also shattered.
Similarly, Tech Mahindra, TCS, Wipro, HCL Tech, HDFC, SBI, Mahindra & Mahindra, Bajaj Finserv, HDFC Bank, Infosys, Axis Bank, Bajaj Finance, Maruti, Dr. Reddy, Hindustan Unilever, and ITC saw their stocks fall by 2 to 3 percent. PowerGrid, Reliance Industries, Asian Paints, Kotak Bank, Titan, Nestle, Sun Pharma, and NTPC all saw their stock prices drop by up to 1%.
In the lower circuit, 578
The Sensex has 76 stocks in the upper circuit and 578 in the lower circuit. This means their stock can’t drop or rise more than a certain amount in a single day. There are 2,378 shares in decline and 270 shares in gain among the Sensex companies. 35 shares are trading at a one-year high, while 171 are trading at a low.
The Nifty is down 476 points.
The Nifty of the National Stock Exchange, on the other hand, is down 476 points at 16,586. It started at 16,548 and ended at 16,546. It reached a high of 16,705 and a low of 16,546. Its 50 shares are all in the red. Tata Motors, Tata Steel, UPL, IndusInd Bank, and Adani Port are among the biggest losers. The Bombay Stock Exchange (BSE) Sensex fell 68 points to 57,232 on Wednesday, while the National Stock Exchange’s Nifty dropped 29 points to 17,063.
The main causes of the stock market’s decline
Fear has gripped investors as a result of the Russia-Ukraine conflict, and they are withdrawing their funds from the market.
For a long time, the stock market has been at all-time highs. Investors are withdrawing their funds in such a situation.
Due to the rapid rise in crude oil prices on the international market, the market is under pressure.
Crude oil has surpassed the $100 mark.
The price of crude oil (Brent crude) has reached $ 99.75 per barrel since Russia declared war on Ukraine. This is the highest point in the last eight years. Experts predict that its price will rise to $ 120 in the coming days. As a result, petrol and diesel can be up to Rs 20 more expensive.
The rupee has plummeted.
The rupee has plummeted in value against the dollar today. The rupee has dropped 55 paise to Rs 75.16 against the dollar. The rupee had gained 27 paise against the dollar earlier on Wednesday.
Gold is close to 52 thousand dollars.
The price of gold has risen dramatically recently. On the MCX today, 11 gold is trading at 51,561 rupees, up Rs 1,182. When it comes to silver, however, it is currently trading at Rs 66,168, up Rs 1,583.