Global markets plummet amid tensions in West Asia, with Sensex and Nifty slumping due to weak global cues and surging oil prices. Investors are advised to remain cautious and monitor the situation closely.
The market valuation of top-10 firms in India has declined by ₹1.25 lakh crore last week, with Reliance Industries taking the biggest hit. Concerns regarding monsoon advancement and persistent FII selling weighed on investor confidence.
The Indian stock market experienced a bearish start to the week, plummeting 1.52% to 23,091, as the US stock market witnessed a sharp crash on Friday. Read more about the impact of higher interest rates and RBI’s measures to attract foreign capital and support the rupee.
Wipro’s share price plummeted nearly 8% as the IT major’s shares turned ex-record date for its Rs 15,000 crore buyback, amidst harassment allegations and workplace discrimination claims.
The cash market segment of equity markets has witnessed a significant surge in average daily turnover, driven by the fear of missing out (FOMO) syndrome among retail investors. With a 22-month high of Rs 1.42 lakh crore in May, the market is expected to remain strong despite global uncertainties.
The Indian stock market witnessed a sharp decline due to a below-normal monsoon forecast and persistent geopolitical uncertainties, with the Sensex plummeting 1,092 points and the Nifty diving 359 points, amid concerns about agricultural output and inflation.
