Mumbai, First Published Apr 22, 2022, 3:50 PM IST
Mumbai and the National Stock Exchange ended the last two days of the week on a positive note.
Federal Bank
The fall in Mumbai and the National Stock Exchange was the main reason for the US Federal Reserve’s announcement last month that it would raise interest rates sharply.
The US Federal Reserve has already raised interest rates by 25 points to control inflation, the highest level in 40 years. Federal Reserve Chairman Jerome announced yesterday that interest rates will be raised by at least 50 points in May.
Reluctance
The announcement caused the US Nasdaq to fall 1.2%, especially as technology stocks plummeted. In Asia, Japan’s Nikkei fell 2 percent and Taiwan’s Kospi 1 percent. This has led to a decline in Indian investors’ reluctance to invest in stocks as they have started selling stocks for profit.
Besides, only Rs 89,000 crore was invested in securities in March. This also caused a stir among investors.
Raghuram Rajan
As a result, the Sensex fell by 600 points and the Nifty by 180 points at the start of trading on the Bombay Stock Exchange this morning. However, the stock market rebounded as HCL’s quarterly results were profitable amid trading.
However, in an interview with former Reserve Bank Governor Raghuram Rajan, he warned that “India’s image for minorities could hurt the global market for Indian goods.” The uptrend was due to a fall in the stock market
Fall
The Sensex was down 714 points at 57,196 on the Bombay Stock Exchange at the end of the evening trade. At the National Stock Exchange, the Nifty was down 228 points at 17,164.
Only 5 stocks ended higher on the Mumbai Stock Exchange with 30 major companies. The other 25 company stocks ended lower. 1447 shares saw price rise, 1882 shares depreciated, 115 shares unchanged.
Nifty completely declines
Shares of Hindalco Industries, SBI, Cipla, IndusIndvank and Hindustan Unilever ended lower in the Nifty. Shares of Adani Ports, Mahindra & Mahindra, Bharti Airtel, ITC and Maruti Suzuki gained.
All sectors in the Nifty ended in negative territory. Shares of metals and banking, in particular, fell sharply. Metal stocks fell 2 percent and banking stocks fell 1.92 percent.
Last Updated Apr 22, 2022, 3:50 PM IST