Sensex drops over 2,400 points and Nifty slides 2.6%
Business
The Indian stock market just had a rough few days: Sensex dropped over 2,400 points (about 3%) and Nifty slid by 2.6% between April 21 and April 24.
Both kept falling on Friday, hitting new lows and leaving investors worried about what's next.
Indian investor wealth ₹7L cr wiped
A mix of global worries (like U.S.-Iran tensions), an 18% spike in oil prices, and the rupee slipping past the 94 mark against the dollar have all rattled investors.
Plus, foreign investors pulled out over ₹8,300 crore during this period.
All this led to a massive hit: ₹7 lakh crore in investor wealth was wiped out as market confidence took a big knock.