Mumbai, First Published Apr 7, 2022, 9:33 AM IST
Mumbai and Indian stock markets opened lower today for the second day in a row. The impact of international factors is having an impact on the stock market.
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. In addition, the US Federal Reserve announced that the US stock market Nasdaq ended trading with a decline.
Echoes of this are coming from the Asian stock market. Trading in Japan’s Nikkei, South Korea’s Kospi, Australia’s ASX, China’s Shanghai and Hong Kong’s Hong Cheng is also moving towards a decline.
Inflation in India is beyond the control of the Reserve Bank. Headline inflation has doubled for the sixth consecutive month. Thus, investors fear that the Reserve Bank may raise interest rates in the coming monetary policy.
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 200 points before the start of trading on the stock exchange. At the start of the morning trade, the Sensex was down 300 points at 59,301 points. The Nifty was down 81 points at 17,726 points.
Of the 30 major stocks on the Bombay Stock Exchange, 11 are gainers and 19 are losers. Shares of Asianpoints, Sunpharma, Ultratech Cement, Doctorates, ICICI, Mahindra & Mahindra, NTCBC, ITC, Tata Steel and Axis Bank are moving in the red. Other stocks declined, including HDFC Twins, TCS, Infosys, HCLTech, Reliance, Maruti, Bharti Airtel, Maruti, Kotak Bank and IndusInd Bank.
Last Updated Apr 7, 2022, 9:33 AM IST