First Published May 5, 2022, 3:59 PM IST
Indian and Mumbai stock markets started with gains this morning and started sliding in the afternoon and ended with slight gains. The stock market was volatile throughout the trade.
Today alone, the Bombay Stock Exchange benchmark Sensex rose 865 points, ending with a slight gain at the end of trading.
The Federal Reserve has announced that it will raise interest rates in the wake of record inflation in the United States. Accordingly, the interest rate on the loan was raised by 50 points yesterday. For the first time in the last 20 years, it has been increased by 50 points. The news also caused fear among investors.
On the one hand the Reserve Bank is raising interest rates on loans and on the other hand raising the interest rates by the Federal Reserve has caused some reluctance on the part of investors.
However in the morning trade investors were eager to buy IT stocks and banking stocks. Thus, the stock market saw a booming trend. But traveled towards the decline in the afternoon. The Sensex, which had risen to 865 points between trades, began to slide in the afternoon.
The Sensex ended 33 points higher at 55,702 on the Bombay Stock Exchange. At the National Stock Exchange, the Nifty was up 5 points at 16,682 points.
Shares of IndusIndvank, Tata Consumer, Britannia Industries, Ultratech Cement and Nestle India ended lower in the Nifty. Tech Mahindra, Hero Motors, Infosys, HCL, Wipro shares closed higher
Of the 30 major companies listed on the Bombay Stock Exchange, 14 ended with gains and others with declines. Techmahindra, Hero Motors, Infosys, HCL Technologies, Wipro, Tata Steel, ITC, TCS, Kotak Mahindra, ICICI Bank, Maruti and NTPC ended higher.
Last Updated May 5, 2022, 3:59 PM IST