Indian stock markets closed lower today, the last day of the week. Sensex, Nifty fell points.
Shares of Adani Group’s Adani Enterprises fell 5 percent as the US stock market ended lower on news of a possible recession. The news that the Federal Reserve is likely to raise interest rates in the near future has left investors unsettled.
Sensex, Nifty fall! Strong swings in the stock market
Adani Group’s shares have continued to fall, causing investors to worry. Adani Group’s share price decline is the main reason for the subdued environment in the domestic market.
Retail inflation figures for January will be released next Monday. If inflation remains under control, RBI is less likely to raise interest rates in April. Investors are therefore looking forward to retail inflation data.
The recovery in the stock market, which started sluggish and sluggish since morning, could not be sustained. By the end of the evening trade, the BSE Sensex was down 124 points to close at 60682 points. The Nifty fell 37 points to settle at 17,857 points on the national bourse.
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Among the top 30 companies on the BSE, 12 gained and 18 declined. Tata Motors, Sunpharma, BhartiAirtel, Titan, HDFC Bank, HDFC, Powergrid, Techmachindra ended in gains.
Adani Enterprises, HCL Technologies, Hindalco Industries, Tata Steel and Coal India fell on the Nifty. Shares of Tata Motors, UPL, Cipla, Hero Motor, Larsen and Toubro rose.
On the Nifty, energy and metals stocks fell, while real estate stocks rose
Last Updated Feb 10, 2023, 3:55 PM IST