Mumbai, First Published Apr 12, 2022, 9:42 AM IST
International factors, such as the prevailing lockdown in China and the action of the US Federal Reserve, gave Mumbai and the national stock markets a slump for the 2nd day in a row.
Chinese Lockdown
Inflation figures for March in the United States have been released. There are fears among investors that the Federal Reserve will raise interest rates if inflation rises.
Moreover, the spread of corona in China continues to accelerate. The continuation of the lockdown operation there in various cities has caused concern to investors. They fear that this could lead to a return to corona spreads worldwide.
The price goes down
The price of crude oil in the international market has begun to fall sharply. Brent crude fell $ 4 to $ 100 a barrel.
Following the collapse of the US stock market Nasdaq, its repercussions are being felt in the Asian stock market. Investors in the Asian stock market are also reluctant to invest. Investors are particularly concerned that the war between Russia and Ukraine could escalate in the coming days.
Decline on the 2nd day
Thus, investors in the Indian stock market are handling investments with extreme caution. The Sensex was down 419 points at 58,545 in early trade on the Bombay Stock Exchange. At the National Stock Exchange, the Nifty was down 123 points, or 17,552 points.
Feet to TCS
On the Mumbai Stock Exchange, which has 30 major stocks, only 8 stocks are gaining and the rest are down. Shares of Bharti Airtel, Ultratech Cement, IndusInd Bank, Wipro, Maruti, Larsen & Toubro and Bajaj Accounting were among the gainers. Shares of TCS have been down one percent since morning.
Pharmaceutical Profit
Only media and pharmaceutical stocks are gaining ground in the Nifty. Shares of other sectors such as automobile, FMCG, financial services, information technology, metals, public sector banking and private sector banking declined. Shares of Cipla, DoctorRetislab, ONGC, NTPC and Sun Pharma were among the gainers. Shares of Hindalco, Grossim, Tech Mahindra, Wipro, Tata Motors are down
Last Updated Apr 12, 2022, 9:42 AM IST