The stock market continues to sell continuous selling, which has increased the concern of investors. Amid this atmosphere, Union Industries Minister Piyush Goyal has given an important statement. He said on Saturday that the evaluation of NSE Nifty is appropriate and balanced.
Recently, Indian stock markets have seen a sharp decline, but Goyal believes that some further improvement in the market is possible and the PE ratio of 19 reflects the correct evaluation of the Nifty.
Small investors were not given the right advice?
Union Minister Piyush Goyal said at an event by the Mutual Fund Body AMFI (AMFI) that some shares of Nifty may have a temporary decline, but the overall Indian market evaluation is still strong.
He criticized those who did not give right advice to small investors during this period and said that this current decline is a warning to those who did not give the investors right.
He advised Amphi to isolate such advisors and also said that mutual fund companies should not forget their responsibility and commitment.
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There is outcry in the market on Friday, a big decline in Sensex-Nifty
On Friday, the stock markets across the world saw a major decline after China announced additional charges on China’s products. It also affected Indian markets, causing heavy losses to investors.
Foreign investors continuously selling and weakness in the rupee against the dollar also further increased the negative perception of the market.
This led to the Sensex dropped to 1,414 points and the Nifty 420 points.
Sensex-Nifty declines
BSE Sensex and NSE Nifty saw a major decline due to heavy selling pressure.
BSE Sensex:
- The 30 -share Sensex closed at 73,198.10 with a decline of 1,414.33 points (1.90%).
- During the trading, the Sensex fell to 1,471 points to a level of 73,141.27.
NSE Nifty:
- The Nifty fell 420.35 points (1.86%) to close at 22,124.70.
- It closed with a decline for the eighth consecutive day.
The main figures of market fall:
| Index | Highest level (27 September 2024) | current level | Decline | Decline (%) |
|---|---|---|---|---|
| Sensex | 85,978.25 | 73,198.10 | 12,780.15 | 14.86% |
| Nifty | 26,277.35 | 22,124.70 | 4,152.65 | 15.80% |
Is there a further decline in the market?
According to stock market experts,
Constant selling of foreign investors
There is a possibility of increase in interest rates globally
Rupee weakness against dollar
Trade war between america-China
