Thursday was no less than a nightmare for stock investors. Till a day ago, no one expected that the Sensex would fall by 2700 points on Thursday. In fact, the news of Russia’s attack on Ukraine on Thursday morning shook the stock markets around the world.
Indian Stock Markets open with a big fall. Then as the day progressed, the decline increased. Finally, the Sensex closed at 54,529 points, down 2,702 or 4.72 per cent. The Nifty closed at 16,247 points after falling 815 points (4.78 per cent). The good thing is that it was time for the market to close at 3:30 pm, otherwise how far the index will slide, it is not estimated.
The biggest fall in the Sensex so far came on March 23, 2020. The Sensex had fallen 4,035 points during trading that day. In 2020 itself, the Sensex had fallen 3,389 points on March 13. A day before this i.e. on March 12, 2020, it had rolled 3,204 points. Then, on March 16 of the same year, it had dropped 2,827 points during trading. In this way, the fall of 2,702 points on Thursday (February 24, 2022) is the fifth biggest fall of the Sensex. This is the biggest fall after the market collapsed due to the impact of Corona.
Experts have given their opinion about this fall. Navin Kulkarni, Chief Investment Officer, Axis Securities said, “Geopolitical events often lead to short-term reactions in the markets. Big news adds to the volatility in the market. Russo-Ukraine war will lead to a jump in crude oil prices. ” “We believe that due to the current macroeconomic developments, volatility is visible across all asset classes. This position will remain for some time, after which the market will find its direction,” he said.
Experts have asked investors to adopt a ‘wait and watch’ policy. He says he should avoid making big purchases this fall. Ravi Singh, Vice-President and Head of Research, ShareIndia, said, “Selling may continue for some more time. This may lead to a further correction of 8-10 per cent in the major indices. In this case, Nifty may go up to 15,500 levels.” Singh said long term investors who want to buy for 3 to 5 years can take advantage of this downside opportunity.
ICICI Securities MD and CEO Vijay Chandok said that the situation is expected to return to normal after sometime. “We don’t think the sanctions on Russia will lead to a significant jump in crude. This is because Europe and America will suffer as well. This is an opportunity for investors to buy. They should look at companies with sustainable growth,” he said. Investment in shares should be increased.
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