Stock market: Today proved to be ‘Black Friday’ for investors

The market fell heavily in the last trading session of the week

Today has been a very bad day in the Indian stock markets. Today there was only a fall in the market only. The effect of the fall in foreign markets on Thursday was felt in the Indian markets as well. The market fell heavily in the last trading session of the week. BSE closed at 54265, down 1055 points. Nifty closed at 16193 with a gain of 284 points on NSE. In the US, the Dow fell 2.38 percent and the Nasdaq fell 2.75 percent. Its effect was also seen in Asian markets today.

Let us tell you that India’s retail inflation data for May is on June 13. Also, inflation is expected to rise. Retail inflation in April stood at 7.79 per cent. It was 6.95 per cent in March. May figures may be higher than April. Investors want to get some money out of the market before both data. If inflation figures rise, the US Federal Reserve may increase interest rates by half a percentage point next week. He had earlier clarified that he may raise interest rates several times this time to control inflation.

The European Central Bank said on Thursday it would raise interest rates. It is going to raise interest rates for the first time since 2011. It has also lowered the growth forecast for the economy. It is believed that the ECB may increase interest rates in the July meeting. If needed, it can raise interest rates again in September. Crude oil prices are rising. Its price has reached above $ 120 per barrel. At the same time, crude is also being affected by the unresolved Ukraine crisis and rising global interest rates. India’s current account deficit is estimated to widen by 1.8 per cent or $42.81 billion in the last fiscal due to rise in crude oil.

Significantly, the RBI has said that it can further increase the repo rate to control inflation. In the last 34 days, it has increased the repo rate by 0.90 percent. After nearly two years, it increased the repo rate in May. Then in June it was extended as well. Thus the loan has become costly due to two consecutive additions. Corona cases are increasing, once again the cases of corona are increasing in India. This worries investors. The number of new corona cases coming every day has increased to 7,584. This is the highest in 3 months. Maharashtra has reported the maximum number of new cases. Next comes the Kerala number. If the wave of corona comes again then the economy can suffer a lot.

(The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Investing money on behalf of to anyone That is never advised here.)

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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