Stock market crash today: BSE Sensex plunges over 650 points; Nifty50 near 23,250
On Monday morning Indian equity benchmark indices BSE Sensex and Nifty50 experienced significant declines during trading. BSE Sensex dipped below the 77,000 mark while Nifty50 approached 23,250.
Stock market crash today: BSE Sensex plunges over 650 points; Nifty50 near 23,250
Stock market today: At 9: The BSE Sensex traded at 76,843.16 points at 9:16 AM with a decline of 663 points representing a 0.86% loss. The Nifty50 index fell to 23,266.05 after decreasing by 216 points which is equivalent to a 0.92% drop.
The previous trading week concluded on Budget day with significant market movements that showed an upward direction contrasting earlier weeks' results.
Market analysts suggest that limited foreign investor participation during the Budget session means authentic market reactions will likely emerge soon to reveal whether Budget considerations were sufficiently evaluated.
Technical Analysis: Nifty shows positive movement but encounters resistance between 23,500 and 23,600 levels. Crossing this threshold may enable the market to reach the 24,000 level. According to Nagaraj Shetti of HDFC Securities market support stands at 23,300.
US markets experienced a decline on Friday after President Trump declared new tariffs on goods from Canada, Mexico and China.
The US dollar gained strength as oil prices climbed and equity markets dropped after President Donald Trump enacted tariffs on exports from Canada, Mexico and China.
The implementation of tariffs by US President Donald Trump against Canada, Mexico and China resulted in higher oil prices on Monday. The market developed concerns regarding potential crude supply interruptions from two significant US oil suppliers despite limited gains due to a possible decrease in fuel demand.
Offshore trading saw the Chinese yuan reach its lowest point ever on Monday as both the Mexican peso and Canadian dollar hit multi-year lows. The enforcement of US President Donald Trump's tariffs led to worries about a growing trade conflict.
The Dalal street experienced a significant loss of 1,258.12 points or 1.59 per cent which resulted in a closing value of 77,964.99 below the 78,000 threshold. The index suffered a steep drop during trading hours by falling 1441.49 points or 1.81 per cent to close at 77,781.62.
HMPV concerns: Reports of two Human Metapneumovirus (HMPV) cases in Karnataka and one in Gujarat by the Indian equities led investors to adopt a cautious approach amid news of a viral outbreak in China.
