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Twitter has yet another topic to talk about as the Indian shares hit a new low

Sandra Theres Dony
India NewsMemesTrending

All haven’t been fine with the Indian Stock Market and the echoes of it have reached Twitter as well. As the Indian Shares pass through a low phase, StockMarketIndia has occupied the top position on Twitter’s trending list. While the main reason for the three-week low can be attributed to the losses incurred in IT, inflation has also been a major catalyst globally which has cast a dark shadow over the investor well-being in general.

StockMarketIndia

The What and Why

Along with Monday blues, the Indian Stock Market was faced with an additional burden as the Indian Shares touched a three-week low. Looks like, the start of the week hasn’t been as pleasant as expected for the Indian Stock Market. In addition to the losses in the field of IT, inflation is also a major player leading to the crash. The NSE Nifty 50 index witnessed a 1.89 percent fall in prices to 17,142,50, as the S&P BSE Sensex fell by 2.15 percent.

The depth of the losses is further reflected by Infosys which hit an eight-month low, as it slumped by 9.1 percent. It came as a shocking surprise to analysts who expected the company’s consolidated net profits for the March quarter to be 59.80 billion rupees. However, the top software service provider in the country managed to touch a profit of only 56.86 billion rupees. It is safe to say that this fall in profits is the one factor that brought Nifty’s sub-index down by more than 4 percent.

It is not just Infosys that has been going through this rather tough phase. Last week wasn’t very favorable for Tata Consultancy Services either as it missed the mark slightly, and its shares slid by 3.5 percent. The week was indeed quite weak for the IT sector in general. According to Saurabh Jain, assistant vice president, SMC Securities,

“It was a weak set of numbers from Infosys and TCS also was a disappointment; the companies are under a lot of cost pressure and this will affect mid-cap stocks and we will see a valuation reset.”

What’s even more concerning is the fact that it’s not just the IT sector that has been overshadowed by losses the past week. HDFC Bank, which is the country’s top private-sector lender also extended losses to an eighth session. The bank’s March quarter results witnessed a 3.5 percent fall. The increase in the share of corporate loans, in addition to sluggish growth in credit cards and auto loans, has led to a contraction in the bank’s net interest margin which is a key measure of profitability.

Now let us take a look at the various responses and reactions on Twitter following the fall in Indian Shares.

At least the memes never hit a low

Heartbreak can look like this too…

Talk about balancing the equation

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