Yet again, this happened as the Sensex crashed due to the impact of the global markets. For the third consecutive day, the Sensex saw a decline. On Friday, the Sensex dropped by 1,000 points. The benchmark equity indices reported a decline today too.
The Sensex fell by more than 1,000 points and many companies saw a decline. Irrespective of the size of the firms, they saw a decline. Even the Power Grid Corporation of India could not sustain the fall and the investors saw a loss of around Rs 4 lakh crores.
The weekend investments did not go well as they caused a big loss of lakhs of crores. The S&P BSE Sensex fell by 1,020.80 points and the Nifty lost 302 points at settled at 17,327.35 points.
Investors are in a big worry due to the changes made to the interest rates. Now the RBI is in a position where it has no option left except for increasing the rates and we might hear news on this soon.
The changes in the interest rates resulted in the Banking stocks getting hit hard as the shares of many banking firms saw a big dip. The losses seen by these firms are to a tune of hundreds of crores. The only good thing is that a few companies managed to see big growth.
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