Bear attack on share market amid US recession fears

PrashantNews

In one of the biggest falls in two months, the stock market on Monday went into tailspin with the benchmark BSE Sensex tanking more than 2500 points on Monday.

From the Sensex pack, Tata Motors, Tata Steel, Reliance and Maruti were the biggest laggards. HUL and a couple of other stocks remained on positive side.

Experts said the market mainly crashed amid worries of a recession in the US where the unemployment rate has jumped sharply in the wake of the weak US jobs data.

Experts said the investors should remain cautious in the current volatility. “Under such weak market conditions, we should remain highly cautious,” said Ashish Bartwal of Sushil Finance.

The market has tumbled soon after the Lok Sabha results which gave 240 seats to BJP falling short of the majority on June 4. The equity investors suffered a massive loss of Rs 31 lakh crore on that day.

By Shishir Prashant

Shishir Prashant is a senior journalist with extensive experience across some of India’s leading media organisations, including PTI, Business Standard, Deccan Herald, Moneycontrol.com and Kashmir Times. With a career spanning diverse facets of journalism, he brings deep expertise in politics, business, environment, sports, entertainment, education, current affairs and ground-level reporting, with a particular focus on Uttarakhand.

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