New Delhi, 24 June (IANS). After the announcement of ceasefire between Iran and Israel, market expert Sunil Shah said on Tuesday that weather and color in the market change rapidly. While the market was trading down 800 points at the beginning on Monday, today there is a boom in the market. The Sensex was trading up more than 1000 points at Intra-Day.
Market expert Sunil Shah told the news agency IANS, “The only reason for the market’s decline was geopolitical tension in West Asia. The US attacked Iran’s three nuclear sites, causing the situation to worse. Investors were afraid to change the tension between two countries into a major war.”
He added, “After the declaration of ceasefire, investors got confident that the worst phase of struggle is over.”
Shah said that if the war between the two countries stops, its effect will be seen on energy prices. Especially the rise in oil prices increases the oil import bill of any country and its direct impact is seen as inflation rate, which damages the economic development of the country.
He said that oil prices will be controlled by ceasefire. This development should be considered positive for the capital market.
Regarding the global market, Shah said that when the markets of other countries do trading in the red mark, then its impact is also seen on the Indian stock market.
He said, “The battle situation was going to affect markets around the world. So with the condition of the situation, the global markets were also trading on the green mark.”
For the next situation, Shah has hoped that if the condition of the ceasefire persists properly then the Indian stock market will remain at an atmosphere for a long time.
-IANS
SKT/
