First Published Nov 3, 2022, 4:03 PM IST
Sensex and Nifty ended lower for the 2nd consecutive day in Mumbai and NSE.
The Sensex was down 54 points and the Nifty was down 18 points to trade at 18,064 points at the opening of the Mumbai stock market this morning.
Indian markets were expected to recover from this decline as the trade went on.
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But the US Federal Bank’s interest rate announcement and the Reserve Bank’s emergency monetary policy committee meeting created fears for investors.
Due to this, investors are not interested in buying foreign stocks and investors are not very involved in trading because of the fear that the Reserve Bank will also make an announcement on interest rates.
As a result, the trade that started with a decline in the morning continued till the end of the evening. By the end of the evening trade, the BSE Sensex was down 70 points to close at 60,836 points. The Nifty fell 30 points to settle at 18,052 points on the national bourse.
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In the United States, the Fed raised interest rates by 75 basis points and the Reserve Bank called an emergency meeting to curb inflation, causing investors to panic. Both these factors are the main reasons for the decline in the stock market trading.
Of the top 30 stocks on the BSE, 16 ended higher and 14 ended lower.
Stocks of Titan, Bharti Airtel, Reliance, Axis Bank, Asian Paints, HCL, Maruti, Tata Steel, DoctorReddies among others gained. Other company stocks ended lower.
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Tech Mahindra, Hindalco, Powergrid, NTCBC, Infosys were among the losers on the Nifty. SBI, Titan, UPL and Hindustan Unilever gained. Apart from banking, real estate and FMCG sectors in the national stock market, other sectors ended in gains.
Last Updated Nov 3, 2022, 4:03 PM IST