The Sensex fell 484 points as the stock market opened on Thursday morning. Apart from India, the stock markets of Seoul, Tokyo, Shanghai and Hong Kong were reported to fall. Equity indices opened trade on a bearish note on Thursday. But with the increase in the interest rate of AES Fed, the decline of Sensex can be seen in the stock markets of different countries around the world.
The 30-share BSE Sensex fell 483.71 points to 58,973.07 in early trade on Friday morning. The NSE Nifty fell 137.95 points to 17,580.40. ITC, Maruti, IndusInd Bank and Hindustan Unilever gained as the market opened on Friday after losses in Sensex and Nifty. Among the 30-share Sensex pack, Bajaj Finserv, HDFC, Wipro, HDFC Bank, Tech Mahindra, HCL Technologies, Power Grid and ICICI Bank were reported to be early laggards.
Its impact was also noticed in the international market on Friday. Apart from Mumbai, the stock markets of Seoul, Tokyo, Shanghai and Hong Kong also saw declines. A negative impact was also seen on the American stock market on Wednesday. America wasn’t doing much better when markets closed on Wednesday.
VK Vijayakumar, chief investment strategist at Geojit Financial Services, said though the US Fed’s 75 basis point rate hike. In that case, the terminal rate market was seen to increase by 4.6 percent. This situation has started to raise questions from the point of view of the Indian market, whether the negative impact of India will continue or not in the case of the fall in the global market.
On the other hand, Prashant Tapse, Chief Researcher at Mehta Equities Limited, said that the US Fed had raised the policy rate by 75 basis points as expected, following the central bank’s statement that further rate hikes are likely in the next few months. This has started to have a negative impact on the market, resulting in a fall in the US market overnight. He fears that this downward trend will continue.
The benchmark BSE settled down 262.92 points, or 0.44 percent, at 59,456.78 on Wednesday. The Nifty ended down 97.90 points, or 0.55 percent, at 17,718.35.
On the other hand, the price of oil continues to rise in the international market. International oil benchmark Brent crude rose 0.5 percent to $90.72 a barrel. Foreign investors offloaded shares worth Rs 461.04 crore on Wednesday, two days after the purchase, according to BSE data.
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Market continued to trade weak and Sensex fell nearly 484 points