What caused the stock market crash today? 14 Feb 2022
Sensex and Nifty closed 3% lower, What caused the stock market crash today?
Reasons for Stock Market Crash Today 14 Feb 2022: Indian stock markets opened a gap-down on Monday amid weak global market cues. Nifty today opened at 17076.15 levels down by 298.6 points while Sensex made a negative opening of 1432.6 points at 56720.32 levels. The key benchmark indices extended their early losses and closed in the deep red today.
Reasons for the stock market crash today
The Indian stock market crash was mainly due to geopolitical tension between Russia and Ukraine, the market sentiments also got hit due to ABG Shipyard fraud case news and lower growth in IIP. Indian markets continued to trade in a sluggish trend throughout the day over escalating tensions between Russia and Ukraine.
Markets witnessed a broad-based selling across all sectors. Investors remain cautious with the report that the country’s industrial production fell to a 10 month low of 0.4 percent in December. Some concerns also came into the market as data from depositories indicated that FPIs have withdrawn a net of Rs 14935 crore from the Indian market in the first half of February 2022.
However, the markets tried to trim their losses after the announcement of the WPI number. The country’s Wholesale price index (WPI) based inflation rate fell to 12.96 percent in January from 13.56% in the previous month. The gap-down opening of European markets again dented the domestic market sentiments in the afternoon session and the markets closed in the deep red.
On the global front, other Asian stock markets crash today as tension rise over Russia’s military buildup near Ukraine and the US warning an invasion may be imminent. European markets also opened in a gap-down and are trading in the deep red at this time at 3.30 pm.
Indian stock market indices at the Close
At the close, the Nifty index was down by 531.95 points or 3.06 percent and closed at 16842.80 levels while Sensex declined by 1747.08 points or 3 percent and finished at 1747.08 levels. The Bank Nifty index closed lower by 1608.70 points or 4.18 percent on spot and ended at 36908.55 levels.
The broader markets also closed in the deep red today. The Nifty midcap index was down by 1170.65 points or 3.94 percent and closed at 28558.75 levels. The Nifty smallcap index closed lower by 474 points or 4.44 percent and finished at 10218.80 levels.
Top Nifty Gainers and Losers
The top gainer in the Nifty 50 index was TCS whereas the top losers were JSW Steel, HDFC Life, ITC, Tata Motors, and Tata Steel
The Nifty midcap gainers were Cummins, Gujarat Gas, and Sanofi India and the losers were Dhani Services, LIC Housing Finance, and Indiabulls Housing Finance.
The top gainers in the Nifty smallcap index were Sequent Scientific, Bharat Dynamics, and Aegis Logistics and the top losers were HEG, TV18 Broadcast, and Hind Copper.
The most active stocks in the Nifty index in terms of value were TCS, HDFC, and SBI The most active stocks in terms of volume were ONGC, SBI, and ITC
On a sectoral front, all sectoral indices closed in the red today. The Sector that dragged the markets most were PSU Banking, Metals, Realty, Banking, and Financial sectors.
You may also like to read, Stock Market Prediction Next Week (14 Feb – 18 Feb 2022)
Trade set up for Monday, Feb 14, 2022- Morning Report
Happy Investing!!
Editorial desk
