Today, Indian market shockingly crashed within 2 hours of opening. Know the culprit behind it. On Friday, something unexpected happened in the domestic markets. After starting off on a positive note, things took a turn for the worse. The S&P BSE Sensex dropped a whopping 1,010 points to 73,601 at 1:56 pm. At the same time, the NSE Nifty50 fell by more than 250 points to 22,394.
Stock market crash reason
Earlier in the day, the Nifty50 had reached a brand new record high. But as the day went on, the market became more volatile. It caused a significant increase in ups and downs. This led to all the Nifty sectoral indices going into negative territory. The IT, banking, and financial services sectors are experiencing heavy losses.
Top losers today in Indian stock market
It’s important to mention that even well-known companies like Reliance Industries Limited, HDFC Bank, and TCS were part of the reason for the major drop in the stock market.
Expert opinion on the Indian stock market crash
But why did the stock market have such a big drop today? Experts say that the sudden change in direction on Dalal Street was because of a lot of ups and downs in the market, caused by worries about the upcoming elections and other things.Amit Goel helps run a company called Pace 360, explained that the stock market has been more unpredictable lately.He pointed out a few reasons for this, saying, “It’s because of things happening both around the world and here at home. People are speculating about when and how much the Federal Reserve will lower interest rates for the first time this season, and there’s also been a lot of selling by foreign investors in developing countries.”He also mentioned that the NFP data from the United States. It was going to be released later in the day. It was another reason for the market being so up and down.
