Share Market Crash: The market declines due to fear of war between India and Pakistan; Sensex dropped 880 points, Nifty closed at 24,008

Share Market Crash: The Indian stock market closed down on the last trading session of the week i.e. Friday (May 9) due to the increasing military crisis between India and Pakistan. In the last trading session of the week, the major benchmark index Nifty closed at 24,000 level while the BSE Sensex closed below 79,500.

Market experts say that the impact of tension with Pakistan can be seen in the stock market today and the Sensex and Nifty 50 can see a big decline. However, he has also made it clear that the two major indices are unlikely to fall into the lower circuit.

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On Friday, the 30 -share Sensex opened over 1,300 points to 78,968.34. However, the index showed improvement as the business started. It closed at 79,956.21 at 9:30 am at 79,956.21 at 9:30 am or 0.47%. Similarly, the Nifty-50 of the National Stock Exchange (NSE) also opened at 23,935.75 points. At 9:30 am, it was down 204.05 points or 0.84 percent to 24,069.75.

There may be further decline in the stock market.

Independent market analyst Ambareesh Baliga said, “There may be a big decline in the market today, but there is no possibility of short circuit at the moment. If tension with Pakistan increases further, the Nifty may decline by more than 500 points. While the Sensex may decline by about 2500 to 3000 points. However, if there is any official statement about the situation, then the government’s mental morale can increase.”

R., co-founder and director of Alphonity Fintech. Bhat said, “What will happen next between India and Pakistan is difficult to say. This uncertainty is increasing concern in the stock market and despite what is happening in the global market, the Nifty can push the Nifty below its current level 5%. India-Pakistan stress is a local issue and its effect is different from global signs.”

Market move on Thursday

Selling dominated the stock market on Thursday. The benchmark index Nifty fell 0.58% to close at 24,273.80. At the same time, the bank Nifty closed down 0.45 per cent to close at 54,365.65. Real estate, metal and auto areas were seen the most pressure in all major areas. However, the IT region was the only region that remained rapid. The broad index, ie midcap and smallcap stocks also saw a decline of 1.5% to 2%.