Market bloodbath: Yes Bank, Oil, Corona … are the main reasons for the market collapse
Global Market News Today, Markets on Monday incurred unprecedented losses due to the corona virus! Markets around the world are collapsing. All businesses have fallen.
This effect has negatively impacted markets. This was fueled by the Russian and Saudi Arabian oil war. Overall, the Indian stock markets fell heavily on Monday.
Black Monday … in global market news Yesterday
Markets that started in the morning in woe … The Sensex finally ended with a loss of 1,941.67 (5.17%) points at 35,634.95 and the Nifty closed at 10,451.45 with a loss of 538.00 (4.90%) points.
The Sensex lost over 2,400 points and the Nifty lost 600 points at one time. For domestic markets, this is a black burn.
Investors have tended to sell heavily. World markets are also suffering. Causes of loss of Indian stock markets …
Saudi oil price war with Russia
Saudi Arabia is embarking on an oil price war with Russia. Dropping prices. At the same time it has decided to increase production very soon.
The impact on the markets has led to a price war that has hampered perceptions between Saudi and Russia.
Due to competition between Russia and OPEC, crude oil prices have fallen by as much as 30 percent.
Benefits to India but …
Saudi Arabia – Russia’s oil price war benefits India. But this has also had an impact on markets globally news viral.
Reliance Industries, led by Mukesh Ambani, had a huge impact.
Shares of Reliance and ONGC were down 15 per cent.
TCS was ahead in terms of market cap after Reliance shares fell.
Coronavirus trembles the world. It has spread to more than a hundred countries.
This has an impact on world trade. There are 16 million people in Isolation in Italy alone.
There are up to 50 crore people in China though.
The number of victims has crossed one lakh. The number of children reached three and a half thousand.
An estimated 2.4 trillion tonnes is expected to be lost on the world economy.
This has hurt the sentiment of investors. The S&P Global rating agency said it would raise $ 211 billion in assets in the Asia Pacific region.
Also Read : Current National News In India
The Collapse of Yes bank
Suspicions are rising among foreign investors in the wake of the banking crisis.
The corporate sector was hit by doubts over the domestic corporate sector.
The rating was downgraded by Yes Bank bonds.
The firm has bonds worth Rs 56,612 crore. Basel 2 Tier 1 Bonds have not already paid a coupon payment. There are concerns that becoming a defaulter in the future is even harder.
FPIs have been selling consecutively for the past fifteen sessions.
They withdrew nearly Rs 21,937 crore from the equity market.
Selling at FPI counters has been ongoing since February 24th.
This result also impacted the rupee. The rupee is falling as demand for dollars rises.