There has been a big decline in manufacturing PMI data in America, Which is indicating that there may be a recession in America. The sound of this recession has created an outcry in the stock markets from US to India.
There was a big fall in the stock market on Friday, the last day of last week, and the shares of many big companies were scattered like a pack of cards. when the US Stock Market was shaken by the recession in America, its direct impact was visible on the Indian market as well. Now the first business day of the week, Monday, is also looking like 'Black Monday'. Where Sensex and Nifty fell heavily in pre-open, as soon as the market opened, Sensex-Nifty crashed. BSE Sensex opened below 80,000.
Sensex shattered as soon as it opened today
With the opening of the stock market on Monday, the Sensex index of 30 shares of Bombay Stock Exchange will be compared to its previous close It broke badly and opened with a fall of 1200 points at 79,700.77, At the same time, Nifty-50 of National Stock Exchange also started trading with a fall of 424 points .earlier last Friday, a tsunami like scene was seen in the Indian stock market. BSE Sensex fell 885.60 points or 1.08% to close at 80,981.95... Whereas if we talk about Nifty50, it fell by 293.20 points and closed at 24,717.70 level.
In the pre-opening itself, there were indications as to how the stock market was going to be. Actually, Sensex had fallen by more than 3000 points in Pre Open, So there was a big fall of 700 points in Nifty. the initial fall increased further within just 10 minutes of the market opening, Due to which Sensex fell by 1,585.81 points or 1.96% to the level of 79,396.14, While Nifty slipped 499.40 points or 2.02% to reach the level of 24,218.30. This decline increased further as the market grew and by 11.30 am, amidst the chaos in the stock market, BSE Sensex slipped more than 2,400 points to 78,295.60. Along with this, NIFTY-50 was also trading at the level of 24,010.85, falling by 707.85 points or 2.54%.
Investors lost Rs 18 lakh crore
This big drop in BSE's Sensex has also affected the BSE Market Cap.By 11.30 am, the market cap of BSE fell to Rs 440 lakh crore from last Friday's level of Rs 457.16 lakh crore.If we look at it this way, then around 17 lakh crore rupees of investors in the stock market got sunk.
Hat exactly happened in America?
In fact, there has been a big decline in the manufacturing PMI data in America, which is indicating that there may be a recession in America. along with this, there has been a record increase in the number of unemployed, which has directly affected the American market. at the same time, the announcement of layoffs in the IT sector has further deepened the crisis, due to which the global IT sector is also under heavy pressure.
Hese are the major reasons responsible for the market collapse
He threat of recession in America (US Recession Threat) has started deepening again. on the one hand, the unemployment rate in America has increased and it has reached the level of 4.3 percent. so US Manufacturing PMI fell to an 8-month low of 46.8 in July .a part from this, if we talk about other reasons, apart from the delay in reduction in policy rates in America, Strong selling in chip stocks was also one of the major reasons for the fall in the US market and its effect was seen in markets around the world including India.
These 10 shares scattered like a pack of cards
Amidst the turmoil in the stock market, 28 out of 30 stocks of BSE opened in the red mark if we talk about the 10 most falling stocks, then the share of Tata Motors, an automobile company of Tata Group included in large cap companies, fell 4.28%,Tata Steel Share 3.89%, Maruti Share 3.19%, Adani Port Share 3.26%, JSW Steel Share 3.21%, SBI Share 3.19%, M&M Share 3.15%, Titan 3.10%, LT Share 3% .And Reliance Share was trading with a decline of 2.27%.
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