Stock market crashes and investors make a loss of 5.91 trillion
For the fourth day in the row, stock market crashes to lose 5.91 trillion.
Stock market crashes in India and investors bear a loss of 5.91 trillion or 5.91 lakh crore. On Monday morning, equity plunges heavily. As the war between Russia and Ukraine intensifies, there are several factors that are troubling the market.
The war between Russia and Ukraine escalates and as a result of it Russia faces multipronged economic troubles. Firstly, several countries impose sanctions on Russia. Secondly, firms working in important sectors like automobiles are withdrawing their operations and services from Russia. Moreover, most recently Visa Inc. and Mastercard Inc. suspend their operations in Russia.
Additionally, the world is extensively castigating Russia in different ways. However, the world is facing repercussions of the same. The war is challenging the global peace and eventually, the certainty in global market. Further, fuel prices are hiking along with inflationary challenges.
Stock market crashes in India Today
Indian indices are making loss for four days now. On Monday, BSE gauge falls by 1,735.98 points or 2.19 percentage. It closes at Rs 5,91,094.71.
The loss comes as global equities face loss. Also, as the prices of crude oil rise. Currently, crude oil prices stand at $128 by surging 8.84 per cent. It is adversely impacting global growth prospects and worsening inflation.
The major laggards were Maruti Suzuki India, Indusind Bank, State Bank of India and Axis Bank.