Indian stock markets had been performing well since June this year. National stock exchange's Nifty crossed its all time high of 25000 in the last week. BSE sensex was also doing the same. Despite of global tension performance of Indian markets was outstanding so far in this year. However, one thing is clear that markets can never be on top for ever. It must come down for this or that reason. In fact, the government was trying to pull down the market by imposing heavy taxes on profits. Also, the government confessed indirectly that there was a bubble in the market.
It is true that the Indian markets have reached to the point of saturation. This is happening because of pumping of money by the retail investors through Mutual Funds. India is a big populated country. Lots of people have shifted towards stock market and cryptos to try their luck. They are buying without checking the fundamentals of the companies and the crypto projects. So, they are on a verge of losing everything from the market.
Now, it seems that the doomsday has come at last. Indian stock exchanges were down to 2-3 percent in the last two trading sessions. Global conditions are also giving a clear indication that the world economy is under the immense pressure. Central banks around the world had given an indication that recession might come when they started buying and accumulating lots of gold in the last two years. Dow Jones of the USA was down to 2.7%, NASDAQ etc. were also the similar. Indian Nifty and Sensex also fall over 2%.
This fall is not limited to stock markets only. Crypto market has fallen significantly. Bitcoin crashed more that 28% during the week. Other top cryptos are are following the same path. Industrial giants like Intel's shares fall more than 25%. Intel is also going to retrench 15000 employees. Nvidia's stocks also fall. Israel and Iran conflict can instigate more wars in the middle east. In Bangladesh Prime Minister had to flee the counrty. So, overall situation is not very promising. This is the time to save money and buy gold to be prepare for the worst time.
What do you think?
