First Published Jan 7, 2023, 2:06 PM IST
The first week of the year 2023 will be the first week of Mumbai and national stocks. In the first week itself, Sensex and Nifty fell by 2 percent.
Investors’ assets fell by Rs 4 lakh crore in the first week itself. Apart from that, Sensex fell below 60,000 points and fell to 59,000 in the Mumbai stock market. Nifty also came within 17 thousand points.
Bloody stock market! Sensex falls below 60k, Nifty falls
Sensex lost 1,141 points or 1.87 percent in the first week of 2023 in Mumbai. The Nifty lost 242.45 points or 1.34 percent.
In the first week itself, the value of investors’ assets fell by Rs 4.02 lakh crore to Rs 279.78 crore. News that the Federal Reserve, the central bank in the United States, will raise interest rates to control inflation left investors confused.
As a result, the stock market fell for two consecutive days. Apart from that, investors traded cautiously with fears that large companies may post losses in the 3rd quarter.
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Especially in the last 3rd quarter IT companies faced a big challenge. On the Nifty, TCS lost 3 percent, Infosys 1.74 percent and Tech Mahindra 2.54 percent.
Foreign investors have pulled out Rs 2,902 crore from the Indian stock market in the last week alone as the US Federal Reserve is likely to raise interest rates.
The BSE Sensex fell 452 points to close at 59,900 in late evening trade on Friday. The Nifty fell 132 points to settle at 17,859.
Last Updated Jan 7, 2023, 2:06 PM IST