TDP exit triggers chaos in Stock markets

stock-marketThe effect of TDP withdrawal from the coalition government NDA at centre and moving a no-confidence motion on the government has a serious impact on the stock market.

TDP’s decision has not only brought political heat but also on stock markets. The week signals in the international markets’ weak have led to a huge fall along with the present political conditions. In the last hours, the indices hit huge losses.

Stock markets were trading with losses on Friday morning selling pressure due to international signals, stocks of oil, metal, IT and banking were under selling pressure. The Sensex, which started at 33,548 with 137 points loss, could not recover at any stage. The indices further deteriorated due to the country’s political turmoil over the no-trust resolution. The Sensex, which had lost over 550 points at one stage, dropped to a low of 33,120 points. Finally, there were major losses. At the close of the market, the Sensex lost 509 points and settled at 33,176.

Nifty started at 10,300 mark with a loss of 50 points, dropped out further due to pressure. After losing over 170 points at one time, the trade index finally lost 165 points to end to settle at 10,195.