The domestic stock market ended with heavy losses. On the second day too, it suffered consecutive losses. The market has been facing huge fluctuations since the beginning of this week. The domestic market traded at a heavy loss on Monday due to severe adverse conditions in the international market. On Tuesday too, it faced worse conditions. The market was trading at a loss since the opening of the market in the morning. As a result, investors’ wealth of Rs.12 lakh crore has evaporated. Sensex lost 1,456 points to close at 74,559. Nifty lost 436 points to close at 23,379. The value of the rupee fell to a new record low. The rupee ended near a new record high of 95.63 against the dollar.
In West Asia, despite the ongoing ceasefire agreement between Iran and America, the tension between the two countries continues as the peace agreement has not been reached. This has created an atmosphere of tension in the Middle East. On the other hand, oil prices have increased tremendously, on the other hand, the value of the rupee has fallen to a minimum level. Recently, Prime Minister Modi’s advice to the people of the country to follow the mantra of savings has also had a severe impact on the market. Unsustainable conditions created fear among investors. In this background, the market is facing huge losses. Except for metals, oil and gas and PSU Bank sectors, all the other sector indices traded in losses. On the Nifty, realty and IT stocks were among the top losers while the Nifty Smallcap 100 index fell over 3 percent.
