By Admin 
- Indian stock market fell for the fifth day, crude oil became a concern.
- US imposes tariffs on Indian imports; Asian markets fell.
- Fall in American stock market, huge loss to tech stocks.
Share Market Today on July 24: Today, the Indian stock market is declining for the fifth consecutive day. Sensex, which closed yesterday at the level of 76391, is trading with a decline of 500 points today. At the same time, Nifty has also fallen by about 170 points and remains at the level of 23700. Panic prevails in the market.
Due to the war between America and Iran, Brent crude has crossed $ 100 per barrel. India imports more than 80% of its oil needs. In such a situation, the fear of increasing inflation and trade deficit in the country due to increase in the price of crude oil has started troubling investors.
America imposed new tariff
America has announced to impose 10% tariff on goods imported from India due to ‘labor concerns’. This is likely to have a negative impact on the margins of Indian exporter companies.
America argues that it wants to protect its companies and consumers from purchasing products in whose production human rights have been violated. America says that due to cheap and forced labor in developing countries, the cost of production is very low, hence the products there are sold at cheap prices in the American markets. This causes huge losses to American companies.
Asian market
Today a huge decline is being seen in the Asian markets. Due to rising prices of crude oil, there is a fear of rising inflation among investors. Due to this, all the major Asian markets are seen trading in the red today. Japan’s Nikkei 225 index has fallen by 3% in early morning trading. At the same time, the biggest decline is being seen in Kospi of South Korea. It has come down to 3.4%. Hong Kong’s Hang Seng is also under pressure. A decline of 1.1% is being seen in it. China’s Shanghai Composite is also down 0.07%.
Wall Street is also in bad shape
A huge fall was also recorded in the American stock market on Thursday night. Due to slowdown in tech stocks, Nasdaq Composite fell 553 points and closed at 25137. Dow Jones also closed at 51711 level with a fall of 506 points. S&P 500 also fell to 7408 level with a loss of 1.21%.
During trading yesterday, a huge fall of up to 7% was seen in the shares of Google’s parent company Alphabet. The company’s quarterly results were good, but the talk of increasing spending on Artificial Intelligence (AI) increased the concern of investors. Yesterday Tesla shares also crashed by 14%. Due to this sharp selloff, $889 billion was wiped off the market value of America’s 7 largest tech companies – the Magnificient Seven.
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