Stock Market Updates: Sensex jumps over 500 points, buy in IT-Auto shares

Good buy in IT and Auto stocks.

In today’s trading, both Sensex and Nifty indices have gains. Sensex has gained more than 500 points, while Nifty has reached near 15500.

Domestic on Thursday, 23 June 2022 amid mixed global cues Share Market ,stock market) is visible. Sensex and Nifty in today’s tradingSensex and Nifty) Both the indexes have gains. The Sensex has gained more than 500 points, while the Nifty has reached close to 15500. Fed Chairman Jerome Powell has given a statement in the Senate. The Fed chairman said, to reduce inflation, rates will continue to increase according to the need. Due to global challenges, there is a possibility of recession in the US economy. In today’s trading, buying is seen in all sectoral indices on all NSE. The biggest gain was recorded in the Nifty Auto Index at 1.96 percent. Apart from this, Nifty Bank rose 1.67 percent, Nifty Financial Services 1.36 percent, Nifty IT index 0.81 percent, Nifty Metal 1.15 percent, Nifty Pharma 1.14 percent, Nifty Realty index rose 1.21 percent.

Powell said, the US Fed is committed to bringing down the inflation rate. The Fed’s rates will continue to increase as needed. The conditions of the economy are favorable, labor market and demand are strong. He said, there could be a recession in the US economy. Despite 2 per cent inflation, we are committed to a strong labor market.

weakness in US markets

After the statement of the chairman of the Fed, there was pressure in the US markets. The Dow Jones closed in the red despite climbing about 350 points from the lower levels. The Dow Jones closed down 0.15 percent. The S&P 500 index was down 0.13 per cent and the Nasdaq 0.15 per cent.

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