The corona virus outbreak has wreaked havoc on the stock markets worldwide. Especially for the Indian stock market, it has proved to be havoc. In the last nearly two months, 58 lakh crores of investors have sunk in the Indian stock market. Veterans like Mukesh Ambani, Gautam Adani have also suffered heavy losses.
Sensex – Nifty reached record in January
Significantly, on 20 January this year, the BSE (Bombay Stock Exchange) Sensex and the NSE (National Stock Exchange) Nifty reached record highs. The market capitalization of BSE reached 160.57 lakh crore rupees on that day.
Sensex falls more than 16 thousand points in two months
On 20 January, when the markets were at their record highs, many analysts were speculating that the Sensex could cross 45 thousand in the second half of this year. On 20 January, the Sensex reached 42,273 and 12,430, which is the record level of height of these two. Since then, the Sensex has lost 16,292 points and 4,820 points.
Since January, Mukesh Ambani’s total assets have decreased by $ 23.8 billion, or about Rs 1.81 lakh crore. Reliance Industries shares have fallen by 41% over the same period last year due to the impact of Corona virus outbreak on oil demand. At the same time, the market capitalization of Gautam Adani of Adani Group has decreased by $ 5.14 billion (-45.6%) i.e. about Rs 39,151 crore.
Even on Tuesday’s figures, investors lost about Rs 57 lakh crore compared to January 20. There is a possibility of huge fluctuations in the Indian stock market, although now the announcement of a 21-day lockdown in the country is expected to close the business in the stock market.