Investors Wealth Loss: Next week is going to be very important for the Indian stock market. But even before that, there has been despair in the market. Due to tremendous profit booking in the stock market for the last two days, investors have suffered huge losses. Investors have lost Rs 10.73 lakh crore in just two trading sessions.
investors hurt
In two days, BSE Sensex has fallen by 1640 points, while Nifty of National Stock Exchange has slipped by 400 points. Sensex 59330 and Nifty has closed at 17,604 points. Due to this fall, the investors of the market have suffered a lot. Investors have lost Rs 10.73 lakh crore due to the fall in the last two trading sessions. In two days of trading, the market cap of companies listed on BSE decreased by Rs 10.73 lakh crore to Rs 269.65 lakh crore.
Next week is important for the market
On February 1, 2023, the Modi government will present the last full budget of its second term. The market is waiting for this budget. Whether this budget is going to accelerate economic development or it remains populist. The market expects the government to spend more on strengthening infrastructure and reduce its deficit in view of the global situation. If the budget does not stand up to the expectations of the market, then the decline may increase.
Worries about capital gains tax
After Russia’s attack on Ukraine in 2022, there was upheaval in the stock markets around the world. But the Indian stock market was the only one which gave positive returns to the investors and the credit goes to the retail investors. In such a situation, the stock market is eyeing the general budget to be presented on February 1, 2023. Finance Minister Nirmala Sitharaman takes steps to encourage retail investors to invest in the stock market or decides to impose higher tax on investors’ earnings from the stock market. That’s why there is panic in the market and selling is visible.
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