Stories
Stock Market Crash Today: Nifty Plunges 275 Points As Investors Lose 7.6 Lakh Crore
- •Crude oil prices surged by 2 percent to reach 102 dollars per barrel, raising inflation and corporate profit concerns.
- •Weak cues from Asian stock markets and rising bond yields dented investor confidence across global markets.
- •Foreign Institutional Investors sold Indian shares worth over 6100 crore rupees, increasing heavy selling pressure.
- •Experts note that Nifty faces crucial support levels and ongoing volatility before deciding its next market direction.
Key Questions Answered
The stock market faced intense selling pressure due to three primary factors: a surge in crude oil prices, weak cues and bond market pressure from foreign markets, and heavy selling by foreign institutional investors (FIIs) who sold over Rs 6,100 crore in Indian shares.
Brent crude rose 2% to reach $102 per barrel amid escalating supply concerns and attacks on ships in the Gulf and the Strait of Hormuz. For an oil-importing nation like India, this surge drives up expenses, sparking severe concerns about rising inflation and diminished corporate profits.
According to V.K. Vijayakumar of Geojit Financial Services, Nifty experienced range-bound volatility after multiple attempts to cross 22,574. While the prospect of reaching 23,100–23,220 remains intact despite a weakened outlook, 22,439 is established as a crucial downside level to monitor.
