Stock Market Today: The market fell for the second consecutive day, the effect of the decision of the Federal Reserve
The US central bank raised interest rates by 0.75 percent to 4.75 percent from 3.75, its highest level since 2008. After which there has been a decline in the markets
Market fell for the second consecutive day
Due to weak signals from overseas markets, domestic stock market On Thursday, there was a decline for the second consecutive day. However, this decline was limited. Central Bank of America by Federal Reserve interest rates It was increased by 0.75 percent, after which there was pressure in the markets around the world. This weakened the sentiments, but it did not have much effect on the market. in the market today The Sensex closed at 60,836, down 70 points or 0.11 per cent. Similarly, the Nifty of the National Stock Exchange also declined by 30 points or 0.17 percent to 18,053 points.
how was today’s market
Among the Sensex companies, Tech Mahindra’s stock fell the most by 2.66 percent. PowerGrid, NTPC, Infosys, Wipro, HDFC, Tata Consultancy Services and Mahindra & Mahindra also closed with a fall today. On the other hand, shares of State Bank of India, Titan, Bharti Airtel and Hindustan Unilever registered gains. In the broad market, BSE Midcap rose 0.22 percent and Smallcap rose 0.11 percent.
In other markets in Asia, South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng closed lower. Weakness was also seen in the European markets, while the US market also closed down on Wednesday. According to stock market data, foreign institutional investors continue to be net buyers in the capital market. He bought shares worth Rs 1,436.30 crore on Wednesday.
why the stock market fell
Vinod Nair, Head of Research, Geojit Financial Services, said the Federal Reserve’s decision to aggressively hike interest rates was a huge blow to markets across the world, as investors were expecting lower growth. The US central bank raised interest rates by 0.75 percent to 4.75 percent from 3.75, its highest level since 2008.
Meanwhile, the Monetary Policy Committee of the Reserve Bank of India (RBI) met on Thursday to finalize the report to be sent to the government. This report will explain why it has failed to keep retail inflation below the satisfactory threshold of 6 per cent for three consecutive quarters since January this year.