Stock market today (AI image)
Stock Market Crash Today: Continuing the downtrend, both the Nifty50 and BSE Sensex collapsed in opening trade on Thursday with the US-Iran war showing no signs of stopping and oil prices rising again. While the Nifty50 fell below 23,600, the BSE Sensex fell over 900 points.
At 9:16 am, Nifty50 was trading at 23,592.00, down 275 points or 1.15%. The BSE Sensex stood at 75,950.65, down 913 points or 1.19%.Market analysts believe that indicators are likely to remain volatile as investors track developments in the conflict in West Asia, fluctuations in crude oil prices and continued selling abroad.“External headwinds have pushed the market into a weak zone,” says Dr VK Vijayakumar, chief investment strategist, Geojit Investments Limited.
As the war continues to rage with no signs of stopping and Brent crude bounces back to $100 levels, weakness is likely to continue. Although PE firms are continuously buying in the market, PE firms buying are not helping the market recover as FIIs are consistent sellers and show no signs of reversing their strategy in this uncertain global environment.
” “For investors, markets can be very frustrating during certain times.
This is the one this time. The lesson of market history is that attitude and mood matter in these turbulent times. Experiences of past geopolitical conflicts tell us that markets recover intelligently once conflicts end. Therefore, investors should continue to invest and continue with systematic investment plans. Long-term investors can use market weakness to slowly accumulate high-quality blue-chip stocks across sectors.
This is also a good time to switch portfolios in favor of high-quality stocks.”Foreign portfolio investors continued to offload domestic stocks, with net selling of shares reaching Rs 6,267 crore during Wednesday’s session. Domestic institutional investors partly offset the pressure, emerging as net buyers worth Rs 4,966 crore.US stocks closed lower on Wednesday as investors looked past the relatively moderate inflation reading and focused instead on intensifying hostilities and the broader fallout from the US-Israel war on Iran.Asian stocks fell on Thursday, continuing a volatile week in global markets. The renewed rise in oil prices and increased pressure in the private credit market have increased concerns among investors.Oil prices rose in Asian trading even after the authorities announced the release of large quantities of crude oil from strategic reserves with the aim of reducing prices in the wake of the Iranian conflict.Meanwhile, gold prices fell on Thursday as a stronger US dollar weighed on the metal. (Disclaimer: Recommendations, opinions regarding stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times Of India)