China sell-off triggers mega drop in Indian stock market

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Mumbai/New Delhi, Jan 05 (ANI): The National Stock Exchange (NSE) Nifty ended over two percent lower, posting its biggest single-day percentage fall in over four months amid a global sell-off triggered by China. The 50-share index fell 2.16 percent, its biggest single-day percentage loss since September 01 last year. The benchmark Bombay Stock Exchange (BSE) Sensex ended 2.05 percent lower, its biggest single-day percentage loss since September 22. Market expert, Sunil Shah, said the problem in Chinese market led to the fall as all markets are interconnected. Chinese economic data reignited fears of global growth and sparked a selloff in stock markets across the world. Mainland Chinese shares fell seven percent, triggering a new circuit breaker that prompted a trading halt. Another market expert, Akash Jindal, also blamed China for the problems in the market, adding that Indian markets were also not performing well.
Basic reason is China and the impact China had on international markets. Then the secondary reason could be the problems, the tension in the Middle East and thirdly, since our economy is also not doing that well, I think market tanked with such a high numbers today. Oil prices rose more than two percent, overcoming economic weakness in Asia, as the two big petroleum exporters traded insults and tensions spilled into other crude producers such as Iraq.

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