Rush Hour: Stock market crash wipes out Rs 13 lakh crore investor wealth, LPG prices hiked, & more
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Investor wealth in India declined by over Rs 13 lakh crore as stock markets crashed following sweeping tariff announcements by United States President Donald Trump. This was one of the worst stock market falls in the country in the past 10 months.
The Bombay Stock Exchange Sensex ended the day at 73,137.90, down 2,226.79 points, while the National Stock Exchange Nifty50 closed at 22,161.60, losing 742.85 points.
Tata Steel was down by 7.73% on the BSE Sensex, while shares of Larsen & Toubro were down by 5.78% at the close of the day’s trading.
From the Nifty50 grouping, the top losers were Trent (14.70%), JSW Steel (7.53%) and Tata Steel (7.26%).
Earlier this month, Trump announced a 10% minimum tariff on most goods imported into the United States. Besides, Washington DC said that it was imposing reciprocal tariffs on dozens of countries, including a 26% “discounted” levy on India. Read more.
The price of a 14.2-kg LPG cylinder has been increased by Rs 50 for all consumers, including those under the Pradhan Mantri Ujjwala Yojana, Union Oil Minister Hardeep Singh Puri said on Monday. Regular users will now pay Rs 853, while Ujjwala beneficiaries will pay Rs 553.
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