Mumbai, First Published Apr 18, 2022, 3:50 PM IST
The first day of the week was a big shock for investors. Mumbai: The fall in the national stock market has cost investors Rs 4 lakh crore.
Russia-Ukraine war
The war between Russia and Ukraine is likely to intensify, and it has become clear that there is no room for talk. Investors fear that this will disrupt the supply of goods and slow global economic growth.
Inflation
Retail inflation in India has already crossed the Reserve Bank’s control level of 6 per cent for the past three months. It also reached 6.95 per cent last month. Meanwhile, headline inflation rose to 14.55 per cent in March. Headline inflation has doubled for the 12th consecutive month.
Infosys fall
Apart from this, the 4th quarter results of HDFC and Infosys did not meet the expectations of investors. The stock market plummeted as investors sold shares in Labanok. Shares of Infosys alone fell 9 per cent, losing Rs 48,000 crore to investors.
The Sensex was down 1129 points and the Nifty was down 299 points on the National Stock Exchange.
Loss
But international factors, details of wholesale inflation, and China’s slowdown in economic growth in the first quarter exacerbated the decline. As a result, the Sensex fell 1150 points to close at 57,166 on the Bombay Stock Exchange. At the National Stock Exchange, the Nifty was down 302 points at 17,173. Investors lost Rs 3.39 lakh crore.
1454 shares moved forward, 1990 shares fell and 135 shares remained unchanged in value. On the Mumbai Stock Exchange, which has 30 major stocks, only 10 stocks ended with gains and 20 stocks ended with declines.
Tata Steel, NTPC
Shares of Infosys fell 7.8 per cent, HDFC Bank fell 4.3 per cent and HDFC 4.5 per cent on the 30-share Mumbai Stock Exchange.
Shares of Tech Mahindra, Wipro, TCS and HCL Technologies also fell. Shares of SBI Bank, Bharti Airtel, Bajaj Pinserv and Larsen & Toubro also fell 2 per cent. NTPC shares up 3.5%, Tata Steel, Nestle India, SBI Insurance, HDFClip, Coal India and Tata Steel ended higher.
Last Updated Apr 18, 2022, 3:50 PM IST