Sensex fell nearly 4,000 points
The market capitalization data of the Bombay Stock Exchange (BSE) shows that it stood at around Rs 246 lakh crore on Friday. At the same time, in the previous session, the market capitalization of BSE was at the level of Rs 251 lakh crore. The market cap has decreased by about Rs 5 lakh crore on Friday. Since February 15, the Bombay Stock Exchange index Sensex has fallen nearly 4,000 points and investors have lost $197 billion (about Rs 15 lakh crore). The losses incurred by Indian investors on Dalal Street in the last nearly 3 weeks are more than the GDP of Ukraine. According to IMF estimates, the GDP of Ukraine in the year 2021 was $181.03 billion.
Rising crude oil prices are increasing worries
Meanwhile, the Indian rupee crossed the level of 76 against the US dollar. India is the third largest importer of crude oil in the world. Rising crude oil prices may increase India’s trade and current account deficit. Also, there could be pressure on the rupee and imported inflation could increase. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, says the war and the rise in crude oil prices have completely changed the economic outlook and market expectations. If the fight goes on for a long time, then global economic growth could be affected.