09-Apr-2025 01:43 PM
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Ahmedabad, Apr 9 (Reporter) Karnataka Deputy Chief Minister and KPCC Chief DK Shivakumar on Wednesday urged Prime Minister Narendra Modi to take a clear stand on the ongoing turbulence in the stock market, saying that the Indian industry and common investors must be protected.
Speaking to reporters here, Shivakumar said the sharp decline in the stock market is severely impacting small investors and common people who have put their savings into shares.
"In light of the current situation in the share market, our Honourable Prime Minister must take a clear stand. He should speak up, because protecting the Indian market is crucial," he said.
Shivakumar also called for an all-party meeting to discuss the economic implications and to chalk out measures for safeguarding Indian industry.
"This is not just about a few individuals losing money — many ordinary citizens, small investors who have bought shares, are now facing heavy losses," he added.
Today, Indian stock markets traded lower amid global trade tensions and domestic policy shifts. The BSE Sensex dropped around 0.49% to 73,860, while the Nifty 50 slipped 0.55% to 22,412.
Investor sentiment was dampened by the United States' imposition of a 104% tariff on Chinese goods, escalating global market uncertainty.
Domestically, the Reserve Bank of India cut the repo rate by 25 basis points to 6% and shifted its stance to "accommodative" to support growth.
Key sectors like IT and pharmaceuticals saw significant losses, with the Nifty IT index falling 3%. The rupee also weakened to 86.65 against the US dollar, adding to market concerns. Analysts advised caution, urging investors to focus on strong fundamentals amid the volatility...////...