Mumbai. The fear of recession in America has had a tremendous impact on the Indian stock market. There was an earthquake in the stock market as soon as trading started on Monday. The Sensex opened with a fall of 1200 points at 79700.77 points. At the same time, the Nifty of the National Stock Exchange plunged by 424 points. This has caused a loss of lakhs of crores to the investors. Actually, this condition of the Indian stock market happened after the news of a big decrease in the manufacturing PMI data in America. A decrease in PMI data indicates a recession. There has been a lot of layoffs in the IT sector in America. Along with this, the number of unemployed has also increased there. Due to this effect, the Sensex and Nifty in India plunged.
At the time of writing the news, Sensex and Nifty recorded further decline. Sensex was down by 1466 points and Nifty by 429.75 points. Earlier on Friday also, a significant decline was recorded in the stock market. On Friday, Sensex closed down by 885.60 points at 80981.95. At the same time, Nifty fell by 293.20 points and closed at 24717 points. However, today the decline in the stock market was much more than Friday. Earlier, there was good trading in the stock market for many days. However, on the day of the budget also, a significant decline was recorded in the stock market. Now if the signs of recession in America intensify, then the trend of decline in the stock market may continue.
America and its allies are supporting Ukraine in its ongoing war with Russia. America and its allies are spending a lot of money to support Ukraine, but it is affecting their economy. Since the war between Ukraine and Russia began, the US Federal Reserve has been continuously raising interest rates. At the same time, many banks also closed due to bankruptcy. Now it is being said that the IT sector in America is also under a lot of pressure. The economy has suffered a further setback due to the decline in manufacturing.
