34 lakh crores sunk in a month

Mumbai The trend of decline in the stock market continued for the fifth consecutive day on Thursday. On Thursday, the 30-share sensitive index on the Bombay Stock Exchange ie BSE closed with a fall of 1158 points. With this, five lakh crore rupees of investors were sunk in one day. According to an estimate, in the last one month i.e. between April 11 and May 12, 34 lakh crores of investors have been immersed in the stock market. It is being told that due to the continuous fall in the value of rupee, selling of foreign investors, Russia-Ukraine war, rising oil import bills and rising inflation in America, the condition of the market has worsened.

On Thursday, the BSE index closed at 52,930.31, down 1158.08 points, or 2.14 per cent. The National Stock Exchange (NSE) also continued to decline. NSE’s Nifty closed at 15,808.90, down 359.10 or 2.22 percentage points. The biggest fall was seen in banking stocks. Before the Life Insurance Corporation of India ie LIC is to be listed in the IPO market, the shares were allotted on Thursday and the market fell by more than two percent on the same day.

However, earlier on Thursday, the BSE index opened with a fall of 480 points at 53,608.35. Nifty also opened with a fall of 181 points at 15,935.20. After that, both of them continued to decline in day-to-day trading. Economic experts believe that the weakness of the rupee and the stringent lockdown due to Corona in China have increased the market’s concern.

With the fall in the stock market, the trend of fall in the value of rupee is also continuing. On Thursday, the Indian currency rupee fell to a new record level against the dollar. The rupee had weakened by 30 paise to open at 77.55 on Thursday. However, after that it recovered a bit and closed at 77.44, weakening by 19 paise. Experts believe that the effect of fall and inflation in the stock markets around the world is visible on the rupee.

Yash Vashishtha

Yash Vashishtha is a Senior journalist at working since 2017 who covers latest and trending topics.
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