By Admin 
Share Market Crash: A huge decline is being seen in the Indian stock market on the trading day of Tuesday, 24th February. At around 1 pm the Sensex fell by 1100 points. At the same time, Nifty 50 had slipped 313 points. The rally that has been going on in the market for the last two days has come to a halt.
The fall in the US market and selling in domestic IT stocks sank the market. Due to which investors have suffered huge losses in a short time. Let us know. After all, what is the reason behind this decline?
1. Strong selling in IT shares
There is pressure on the shares of IT sector today, a sharp decline has been recorded in them. Growing concerns regarding Artificial Intelligence globally have affected the thinking of investors. American AI company Anthropic has claimed with its Cloud Code tool that it can significantly reduce the cost and complexity of upgrading old software systems.
After this statement, the possibility of impact on the business model of IT companies seems to be increasing. Due to which the IT index slipped by about 3 percent at the beginning of the trading day.
2. Weak signals from global markets
There has been a strong decline in the American market Wall Street in the past day. Also, there is slowdown in most of the Asian markets today. The uncertainty created by Trump’s 15 percent tariff statement and the US Supreme Court’s decision to cancel the tariff spoiled the mood of the market.
3. Rupee gets battered once again
The Indian currency once again lost its currency against the dollar. In early trade itself, the rupee fell by 7 paise and was seen trading at 90.96 per dollar. However, buying by foreign investors saved it from falling further.
4. The rise in crude oil becomes a concern
An increase was seen in the prices of crude oil in the global market today. Brent crude rose nearly 1 percent to $ 72.13 per barrel. Due to oil becoming expensive, there may be additional pressure on an import-dependent country like India. Because there is a possibility of increase in trade deficit and increase in inflation. In such a situation, investors become cautious.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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