Ever since Saudi Arabia and Russia have extended the cut in crude oil production till December, the prices of crude oil have reached close to $97. Now its pressure is being seen in the stock market also. On Thursday, the stock market closed with a fall of 610 points. At the same time, a decline of more than 190 points has been seen in Nifty. The market has fallen by more than 2400 points in the last two weeks. Due to which stock market investors have suffered a loss of Rs 6.75 lakh crore. Let us also tell you what kind of figures have been seen in the stock market.
Stock market crashed in two weeks
The stock market has crashed in the last two weeks. Life time high Sensex has seen a fall of more than 2400 points. If we talk about Thursday, the Sensex has fallen by 610.37 points to 65,508.32 points. Whereas two weeks ago on September 15, the Sensex had reached a life time high at 67927.23 points. Since then, Sensex has seen a decline of 3.69 percent i.e. 2,418.91. If experts are to be believed, further decline may be seen in Sensex.
Big fall in Nifty
On the other hand, a big decline has also been seen in Nifty, the main index of National Stock Exchange and has fallen 3.45 percent below the life time high. First, if we talk about today, Nifty closed at 19,523.55 points with a fall of 192.90 points. The special thing is that two weeks ago Nifty had reached life time with 20,222.45 points. Since then Nifty has fallen by 698.9 points. More correction may be seen in the coming days.
Investors lost Rs 6.75 lakh crore in two weeks
Stock market investors have also suffered huge losses. Today the market cap of BSE came to Rs 3,16,65,937.80 crore. Whereas a day earlier the market cap of BSE was Rs 3,19,61,081.89 crore. This means that the market cap of BSE decreased by Rs 2,95,144.09 crore. Whereas when the market closed on September 15, the market cap of BSE was Rs 3,23,40,980.71 crore. This means that investors have lost Rs 6,75,042.91 crore since then. This is the loss for investors.
Crude oil becomes villain
Vinod Nair, Research Head, Geojit Financial Services, said in a media report that continuous selling is being seen in the stock market. The main reason for this is the rise in crude oil prices. Vinod Nair says that investors are cautious in view of the increase in crude oil prices. If crude oil remains above the level of US $ 90, it will be a threat to inflation and there will be a decline in operating margins. In fact, due to their stubbornness, Russia and Saudi Arabia have stopped the production of crude oil. The effect of which is being seen on the prices and the effect of rise in prices is being seen in India.
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