Finance Minister Nirmala Sitharaman told reason for selling of foreign investors stock
Stock Market Crash: Finance Minister Nirmala Sitharaman has given a big statement on the continuous fall in the stock market and the selling of foreign investors. The finance minister said, foreign investors have made profits in the Indian markets and now they are leaving after making profits. She said, in the current environment of the Indian economy, good returns are being received on investment and people are also booking profits.
In fact, selling is being seen in the Indian stock market continuously for the last 9 days. So, in the last five months, Sensex-Nifty has fallen by about 15 percent.
FM big statement on the continuous fall in the stock market
The Finance Minister held a post-budget press conference with the Finance Ministry in Mumbai in which questions were asked to the Finance Minister about the ongoing fall in the stock market. In this sequence, when Nirmala Sitharaman was questioned about the ongoing sell-off by foreign investors in the Indian markets, she said, due to the strength of the Indian economy, good returns are being received on investment and foreign investors and retail investors are also booking profits.
Ongoing sell-off by foreign investors in the Indian markets
Responding to the same question, Finance Secretary Tuhin Kanta Das said, it is not true that foreign investors are leaving one emerging market and going to another emerging market. Rather, they are going back to the same country from where they came, i.e. America. She said, the government has taken several steps to strengthen the economy despite global uncertainty and will continue to do so.
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Other officials of the Finance Ministry said, global uncertainty has led to sell-off in the market and this is short term.
Government has taken several steps to strengthen the economy despite global uncertainty
Due to sharp sell-off in the stock market, the market capitalization of the market has slipped below $ 4 trillion for the first time in 14 months. The market cap of the stock market has come down to $ 3.99 trillion, which is the lowest since December 4, 2023. In December 2023, the market cap of the Indian stock market reached the level of 5.14 trillion.
That is, from this level, the market cap has been dented by 1 trillion dollars. Nifty has slipped below 23000 from the level of 26000 and Sensex has slipped below 76000 from the level of 86000. The Nifty midcap index has fallen from 60000 to below 50000.
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Summary
Nirmala Sitharaman said, due to the strength of the Indian economy, good returns are being received on investment and foreign investors and retail investors are also booking profits.
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