oppn parties Stocks In Danger Of Entering Bear Region

News Snippets

  • Rajasthan Police arrest Md Riyaz Akhtari and Gaus Mohammed for beheading the tailor in Udaipur
  • Curfew imposed in 7 police station areas in Udaipur and internet services suspended across Rajasthan as a tailor is beheaded in Udaipur for his social media post in support of Nupur Sharma
  • West Bengal chief minister Mamata Banerjee says the state will not give preference to Agniveers as it will clean "BJP's dustbin"
  • Enforcement Directorate asks Shiv Sena leader Sanjay Raut to appear before it on Friday
  • Devendra Fadnavis meets Amit Shah, discusses tie-up with Shinde
  • Rebels reject Uddhav Thackeray's emotional appeal to come and discuss the issues
  • BJP wants MVA government to face floor test, petitions the government on the same
  • Rupee hits a new low of 78.84 against the dollar, might breach the 79 mark
  • Hotel rooms below Rs 1000 and unbranded packed food to be brought under GST
  • Pallonji Mistry, the head of the Shapoorji Pallonji group, dies at 93. He was the single largest shareholder of Tata Sons with a 18.4% stake
  • India just about manage to beat a rampaging Ireland as the latter make a valiant attempt to chase down India's mammoth score of 225 in the second and final T20. India won by 4 runs
  • Experts believe that the time granted by the Supreme Court to rebel MLAs paves the way for holding a floor test in the Maharashtra assembly
  • Uddhav Thackeray strips rebel ministers of portfolios but stops short of sacking them
  • PM Modi says that energy access should not be limited to rich nations
  • BJP says it is ready with a plan and a new government in Maharashtra may be sworn in by Sunday
Uddhav Thackeray resigns as Supreme Court does not provide relief /////// Jasprit Bumrah to lead India in the 5th Test against England as Rohit Sharma ruled out due to Covid
oppn parties
Stocks In Danger Of Entering Bear Region

By Ashwini Agarwal
First publised on 2022-06-17 08:27:04

Global cues once again caused the Indian stock market to go weak in the knees and the result was huge losses for the investors. Consequent to the high inflation in the US and hiking of interest rates by the US Fed and the Bank Of England, markets all over the world tumbled on Thursday and the Indian markets followed the lead. Sensex went down by 1046 points to 51496 and Nifty by 331 points to 15360, resulting in a wipe out of Rs5.6 lakh crore investor wealth.

The trading session on Thursday was volatile as the Sensex was down 1700 points from the day’s high before it recovered to close at just 1046 points lower than its closing point on Wednesday. But that was enough to take it to its lowest level in 52-weeks. The market is not getting any support from the FIIs which have pulled out nearly Rs 2 lakh crore from Indian markets in 2022 as the US Fed indicated that it would raise rates going forward.

The US markets – S&P 500 and Nasdaq – are already in the bear zone (meaning they are 20% lower than the all-time high). The Indian indices are also in the danger of entering the bear territory as they have slid 17% from the all-time intraday high of 62245 achieved in October 2021. The current meltdown has not even spared the new-age crypto assets as investors have become jittery after stagflation fears in the US.

But experts have advised small investors not to panic and wait as the markets will recover by the end of this year. They have also advised small investors not to make more investments as the bottom has not been reached yet. This is the time to be cautious and not to incur losses by being rash.