The Indian share market had a big crash on 5 August 2024. Several international reasons contributed to this sudden fall on a Monday morning. Nifty 50 falls by 662 points or 2.68% today. Nifty 50 opened at 24,322.85 and touched its lowest today at 23,916. On the other hand, Sensex fell by 2,222.55 points or 2.74%. It touched its lowest at 78,295.86. Why is the market following a bearish trend? What are the reasons behind the fall in the Indian share market?
What Leads To Indian Stock Market Crash?
The Indian share market is falling all of a sudden. Several reasons are contributing to the market fall. It includes several reasons behind the fall. The major reasons contributing to the market fall are unemployment in the US market and the Iran-Israel war. The US job market is witnessing a quick fall. Fewer jobs are available in the market compared to the previous year. The employee is filling out the state unemployment benefits that increased to 14,000. It increased by 249,000 for the week. The predictions were for 236,000 claims in the week. Recently, the US Federal government has not changed the interest rates. Thus, it might indicate a big mistake taking the economy towards the recession.
Apart from that, Goldman Sachs Group predicts a recession in the US on a big level. The prediction is that the recession will take place by next year rising to 25% from 15%. The market expects to fall even more in the coming year. Another big contributor is the ongoing war in the Iran-Israel area. The matter is currently going on and is not solved. Sensex and Nifty 50 crash had these international reasons. The market has been in a scenario where many people lost lakhs of rupees. The morning for several traders was not a happy one.
The market crash took place on 5 August 2024. Apart from Nifty 50, Nifty MidCap fell by 4.2% and SmallCap100 fell by 4.9%. While many who had a hint about the crash are now preferring to not rush for bulk buying in the correction. The share market is volatile. The situations in the foreign market can impact the share market of India. Apart from the Nifty and Sensex, Nikkei also fall by 7% in the morning. Thus, the Japanese market is also going through some trouble. Topix is also falling by 12.23% or 310.45 points. It opened at 2,488.25 and closed at closed at 2,220.91. The all-time low is 2,206.73. While the all-time high today was 2,489.22. We hope you get enough details about the market’s crash above. Stay tuned for more information.