Indian stock markets fell sharply on Friday, the last day of the week, on the back of unfavorable international conditions.
The Bombay Stock Exchange (BSE) index Sensex was down 1.56 per cent and the National Stock Exchange (NSE) index Nifty was down 1.63 per cent.
Interest rate hike: Central banks in many countries are tightening monetary policy in view of inflation. The Reserve Bank of India (RBI) has recently hiked interest rates on short-term loans to banks to curb inflation. Similarly, central banks in many parts of the world are raising interest rates to control inflation.
Economic Growth: In the midst of such actions by the central banks, the global stock market has been in a recession as investors have emerged as the world’s poorest economies. Its impact was also felt in the Indian stock markets.
Foreign investment outflow: The rise in crude oil prices, the unpredictable outflow of foreign investment and events including the fall in the value of the rupee have become a stumbling block for the stock market, according to stockbrokers.
Investors sold shares for profit and withdrew from the market on the assumption that the Reserve Bank’s interest rate hike would affect growth.
2,615 shares of the stock market plunge: 2,615 shares of the company’s stock plunged out of 3,460 shares traded on the Bombay Stock Exchange. Only 758 company shares rose. The price of 87 company shares remained unchanged. 56 stocks recorded 52-week highs and 105 stocks recorded 52-week lows.
The number of investors registered on the Mumbai Stock Exchange was 10,48,28,660.
30 companies: Out of the 30 companies with the highest market value that can help calculate the Sensex index, only 6 companies’ share prices have risen. Shares of 24 other companies also fell.
Bajaj Finance: Bajaj Finance topped the list with a decline of 4.91 per cent.
Techmahindra: Meanwhile, with the support of investors, Tech Mahindra, Pavagrid, ITC, SBI, NTPC and Sunboma gained 2.21 per cent.
Sector Index: In the Mumbai Stock Exchange, the real estate sector index fell 3.53 per cent, metals 3.10 per cent, base metals 2.80 per cent, Nugo devices 2.41 per cent and the IT sector index 2.27 per cent. The code for the power sector was seen with gain.
Sensex: The 30-share benchmark Sensex lost 866.65 points to close at 54,835.58 in early trade on Friday. Between trades, the Sensex fell 1,115.48 points to close at 54,586.75.
Nifty: The Nifty lost 271.40 points to 16,411.25 on the National Stock Exchange.
Weekly loss: The Sensex has lost 2,225.29 points (3.89%) and the Nifty 691.30 points (4.04%) this week alone.
World markets: Shares of other Asian markets, including Hong Kong, Shanghai and Korea, ended lower. Meanwhile, the Tokyo market saw a boom.
Stock trading in the European market remained negative until noon. U.S. markets traded lower on Thursday.
List
6000.95 Bajaj Finance 4.91
673.20 Axis Bank 4.11
13643.50 Bajaj FinShow 3.49
17002.00 Nestle India 3.39
485.40 Wipro 3.12
2151.35 HDFC 2.84
1543.45 Infosys 2.64
1317.60 HDFC Bank 2.59
6202.15 Ultratech 2.42
2207.60 Titan 2.40
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