InvestorQ : What was the specific reason or the Sensex falling 587 points on Monday 19 July?
Arya Nanda made post

What was the specific reason or the Sensex falling 587 points on Monday 19 July?

Answer
image
Anjana Aiyar answered.
5 months ago
Follow

There seems to be a weird connection between Mondays and market crashes and 19 July was no different. Of course, it was nothing like a major crash but the sell-off was palpable. The Sensex closed 587 point slower on the back of concerns over rising COVID 3.0 cases as well as an all-round spike in global inflation. This is raising concerns over living standards as well as the real returns on investments that are being earned.

The NSE benchmark Nifty fell 171 points to close at 15,752. One of the main reasons most FPIs were cautious was the strength in the dollar, which resulted in foreign investors playing it safe and selling Rs.2,198 crore of equities on Monday. The spike in bad loans at HDFC Bank led to all round weakness in most private banks as HDFC Bank ended up as the top loser on the Nifty. COVID 3.0 and slow vaccination rollout spooking emerging markets.

1 Views