Stock market crashes on Monday due to Middle East tensions. 3 lakh crores lost as soon as the market opened. Crude oil prices have increased by 5 percent after Iran claimed to have closed the Strait of Hormuz. Crude oil prices have touched $79 per barrel. Meanwhile, the rupee has also fallen. Overall, the Asian market has been affected once again due to the US-Iran war.
As soon as the market opened on Monday, the Sensex fell by 700 points. Similarly, the Nifty fell by 210 points. As a result, investors lost 3 lakh crores as soon as the market opened. Except for companies like TCS, HCL, NTPC, and Power Grid, there was a big decline in the rest of the shares. However, the main reason for the decline in the stock market is crude oil. Brent crude oil has touched $79 per barrel. Which is a matter of concern for India. Because India is the world’s third largest crude oil importer. Rising oil prices will lead to higher inflation. This will put pressure on economic growth and corporate earnings.
Investors have suffered huge losses due to the decline in the stock market. On Friday, the BSE market cap was around Rs 482 lakh crore. But on Monday it reached Rs 479 lakh crore. Which is a huge loss for investors.
