Explained: Why have the Indian markets crashed?
The war in Ukraine and the surge in COVID-19 cases are among the several factors that have impacted the market After an extended weekend, the Indian stock market opened on Monday with a rude shock to the traders as the benchmark Sensex fell sharply by 1,291.93 points to 57,047 in the early trading hours. It wasn’t just Sensex that fell by more than 2.2 per cent, other key Asian markets, including Nikkei in Japan and Shanghai Composite in China too fell by 1.9 and 1.3 per cent, respectively. The International Energy Agency had warned that roughly 3 million barrels per day of Russian oil could be shut in from May onwards due to sanctions, or buyers voluntarily shunning Russian cargoes. The rising COVID-19 cases in China and the slower than expected rate of growth of the Chinese economy has also impacted the market sentiment.
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