First Published Dec 15, 2022, 9:47 AM IST
The Mumbai and National Stock Markets started the trade with declines today after 2 days of gains. Sensex plunged over 250 points.
Investors were looking forward to what kind of measures the US Federal Bank is going to take to control inflation and how it is going to raise interest rates.
The US Federal Reserve raised interest rates by 50 basis points yesterday, as investors had expected. At the same time, it hinted that interest rates will be hiked until inflation is brought down to 2 percent. Thus, it was known that there will be an interest rate hike in the next Federal Reserve meeting.
Apart from this, the Bank of England and the Bank of the European Union are also expected to decide on interest rate hikes today. Due to these reasons, investors are panicking, reducing their investment and selling stocks to take profit.
The stock market continues to rise! Reasons for Sensex, Nifty rally: Banks share in gains
As a result, the Mumbai stock market fell by 80 points before the start of trading. In early trade, the BSE Sensex fell 266 points to trade at 62,411 points. The Nifty was down 76 points to trade at 18,585 on the national bourse.
Out of the top 30 companies listed on the BSE, 14 are in profit and 16 are in loss.
Gainers include NTPC, IndusInd Bank, SunPharma, KotakMachindra, DoctorReddy’s, Maruti, Larsen & Toubro, ITC, Powergrid, Mahindra Anat Mahindra, Tata Steel, Ultratech Cement.
Bull movement in the stock market: Investors expect! Sensex, Nifty rise
On the Nifty, NTPC, SBI Insurance, Britannia Industries, IndusInt Bank, ONGC gained. Tech Mahindra, Inbasic, HCL Technologies were lower
In Nifty, Public Sector Bank, Pharmaceuticals, Financial Services and Private Banking stocks are in gains. Metals, IT, FMCG sector stocks are in decline
Last Updated Dec 15, 2022, 9:58 AM IST