Markets went into meltdown mode as U.S. President Donald Trump’s retaliatory tariffs sparked panic selling across global exchanges. The Nifty 50 and Sensex crashed over 3 percent in intraday trade, wiping out more than Rs 13 lakh crore in investor wealth before partially recovering. Payal Tiwari Sharma explains the top reasons behind the market sell-off today.
Atul Suri feels that the current rally in the Nifty may be short lived as it is heading to levels of 5,000 in the long-run. The fundamentals suggest that there will be a sharp fall going forward, he told CNBC-TV18.
Experts lauded Finance Minister P Chidambaram‘s efforts to shore up market sentiments and clarifications over capital control measures, but they also stressed that government needed to show more action than talks.
Ambareesh Baliga, chief operating officer of Way2Wealth joins CNBC-TV18 to give his outlook of the market today. He advises staying out of the market now and says that he sees markets crashing further.
It was a sea of red on Dalal Street as investors were left shell-shocked by a Moody's downgrade of the nation's number one bank, State Bank of India.
It was a day of the bears as the markets retested the lows of the year. Global markets too saw a sea of red across most of the indices.
It was an ugly scene on Dalal Street with indices falling like there is no tomorrow.