A Red or a Green Holi for the stock market?
With the festival of colours 'Holi' round the corner, stock market is witnessing volatility so is shuffling between it’s colours: red and green.
BY RADHIKA SETHI | 2 mins read
The stock market has remained quite volatile on whether COVID-19 global or local and moreover, Indian economy being not so interconnected to the world, is witnessing far more volatility and an ultimate fall.
Let’s see whether the stock market has been painted red or green :
- All benchmark and sectoral indices were seen in red and traded with heavy losses in Friday's session.
- Volatility index India VIX rose from 11.70 per cent to 25.96 which means more rough times ahead.
- Investors suffered a loss of nearly 2 lakh crore in the week gone by. The average market capitalisation of the BSE-listed companies fell from Rs 146.87 lakh crore recorded on February 28 to Rs 144.31 lakh crore on March 6.
- All constituents of 30-share pack Sensex and 50-share Nifty were deep in the red.
- Bajaj Auto, Maruti and Asian Paints were the only gainers and were seen in green.
- Sensex crashes 894 points to 37,577 and Nifty down 280 points to 10,989.
- Among banking stocks, RBL bank goes down 15 percent to ₹256, SBI slipped 7 percent and IndusInd Bank dropped 8 per cent to Rs 984.
- The Yes Bank Crisis became worse on the imposition of the 50,000 withdrawal limit as the stock price crashed 85% to hit a low of ₹5.65
Hence, it is true that volatility in the equity stock market is followed by a fall in the market and as per the current scenario with the Yes bank crises happening and Corona virus hit it seems to be a red holi for stock market