Maruti Suzuki, Biocon, Asian Paints, Indigo among 10 worst stocks that made investors poorer this week

• Markets continued to be clouded this week by the war between Russia and Ukraine.
• While Indian markets plunged taking almost all sectors down with them, here are stocks whose value eroded the most this week.
• Moreover, analysts say the uncertainty is here to stay for some more time and suggest investors to avoid short-term trades.

Markets have been tumbling since the last two weeks because of negative global cues led by a deadly war, arguably the biggest in Europe after World War II, between Russia and Ukraine.

According to media reports, thousands of people are killed or wounded and more than 1 million refugees have fled Ukraine since last Thursday after Russia launched the biggest attack.

In fact, Indian markets were the second worst performers this week after Hong Kong.

The stock market rout has led to many casualties in the stock market, but here are those ten stocks whose value eroded the most this week.
Auto company stocks fell the most during the period as vehicle sales continued to remain low because of poor buying sentiment in rural India and semiconductor shortage in the country.

The automobile industry has been reeling with pain since 2019 due to factors such as new emission norms, COVID-19’s impact on demand.

Meanwhile, a sharp rise in crude oil prices have also made things worse for the Indian economy considering India imports 80% of its crude oil needs. Also, the commodity is used in several sectors like paints.

Asian Paints and other paint players have been falling because the paint industry uses crude oil derivatives as raw materials, which accounts for more than 50% of the total expenses.

Interglobe Aviation that runs Indigo also slipped sharply this week in line with the spiking crude oil prices as it inflates jet fuel prices as well, eventually hurting the profitability of airlines.

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