Mumbai, First Published Apr 7, 2022, 3:44 PM IST
Stock markets in Mumbai and India traded lower for the third day in a row on the US Federal Reserve’s decision. It started with a fall in the morning and ended with a big fall in the evening
Federal Bank
The Federal Reserve has said it will raise interest rates to curb rising inflation in the United States. It was reported yesterday that the interest rate could be up to 50 points.
Inflation in India is beyond the control of the Reserve Bank. Headline inflation has doubled for the sixth consecutive month. Thus, investors feared that the Reserve Bank might raise interest rates in the coming monetary policy
increase in price
International crude oil prices have begun to rise again after falling over the past few weeks. Brent crude rose 1.5 percent to $ 102.39 a barrel, while West Texas crude rose 1.2 percent to $ 97.41.
Thus investors are not interested in investing as they are confused and scared. The Sensex was down 300 points at 59,301 in early trade on the Bombay Stock Exchange.
Great decline
The fall was further in the afternoon as the decline was expected to end. The Sensex fell 575 points to close at 59,034 on the Bombay Stock Exchange. At the National Stock Exchange, the Nifty was down 168 points at 17,639.
Loss of profit
1678 shares traded with a profit on the stock exchange. 1644 company shares declined and 102 shares remained unchanged. Shares of Adani Port, Titan, HDFC, Power Grid and ONGC ended lower in the Nifty. In contrast, Axis Bank, Divis Lab, HUL, Dr Reddy’s and ICICI Bank ended higher.
Axis, NTPC Profit
Shares of automobile, banking, FMCG, construction, information technology, metals and public sector banks ended lower in the national equity. Shares of HDFC Twins, Titan, Wipro, Larsen & Toubro, Power Grid TCS, Infosys, HCLTech, Reliance fell on the Bombay Stock Exchange.
On the other hand, Axis Bank, NTPC, ICICI Bank, IndsInt Bank, HUL, SBI and Asian Beats traded higher.
Last Updated Apr 7, 2022, 3:49 PM IST