Apart from the local reasons like disappointment over Budget announcements in India, the rising yield in bond markets and inflation were other key factors affecting the global markets
BSE Sensex in India dipped over 800 points wiping Rs 4.5 lakh crore from the market. Nifty also shed over 250 points, recording its worst fall this year.
The bears did not just tear apart Indian market but they also came crashing down on most of the share markets across the world.
Major stock exchanges in the US traded in red with indices losing as much as three percent. Dow Jones closed 665 points lower on Friday, the biggest plunge since Brexit, whereas NASDAQ shed over 145 points. Similarly, NYSE US 100 index dropped 237 points on the week ending day.
UK-based FTSE 100 index lost 47 points in day’s trade, France-based CAC 40 shed 90 points whereas German DAX closed 218 points lower at 12,785.
Similarly, Asian markets disappointed investors as Hang Seng, KOSPI and NIKKEI 225 traded in the red. Most of these markets opened lower on Monday as well.
The biggest drop was witnessed by Venezuelan stock market IBC which shed over 11 percent in its index during the day’s trade. Interestingly, despite multiple socio-economic crises the equity market in Venezuela has boomed with the 1-year return at 10,016 percent.
Merval 25 index in Argentina plunged 2,201 points to close down by about 6 percent on Friday. Brazil’s Bovespa and Mexican Bolsa indices also shed up to two percent.
Apart from the local reasons like disappointment over Budget announcements in India, the rising yield in bond markets and inflation were other key factors affecting the global markets.A few indices which rose on Friday were SAX (Slovakia) and Shanghai Composite (China).
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