Referring to our Indian Market, we had tough time for past 45 days as similar to global markets and no ray of hope seen yet. As on today, the entire country is in lock-down for 5th day (21 Days – 24th Mar’20 to 14th Apr’20) to prevent disease get worsening due to movement of people.
The Nifty downfall began on the eve of Union budget-2020 proposed in Parliament by Finance Minister on 01st Feb’20. The downtrend hasn’t stopped till date. The downfall was more stimulated and aggravated by Corona virus (Covid-19).
On 20th Jan’20 the Nifty was at peak of 12430. Post union budget from 13th Feb’20 the downtrend was severe. From then no look back, down, down, down, down all the way to a low of 7511 breached on 24th Mar’20. Loss of 4700 points in just 26 sessions.
Nifty 50 – Monthly Chart as on 29-Mar-2020
Actually the Corona virus accelerated the downfall of global markets, else the downfall may be of slow and steady.
From China the epicentre of Corona virus have been shifted to European countries, which were really suffering a lot for past 2 weeks. Italy, Spain, Germany and France are the worst affected in European nations.
The Global economic condition is in big question mark at this stage. In addition the IMF has announced the official recession of world markets.
So the revival of the stockis awaited; Let see how things will proceed further……
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