The stock market fell for the second consecutive day, Nifty closed below 17650

Powergrid, HDFC Bank, HDFC Ltd., Axis Bank, Bajaj Finserv recorded losses in the Sensex shares. On the other hand, investors in Titan, Hindustan Unilever, Asian Paints, Maruti and ITC earned.

Markets fall for the second consecutive day

Domestic stock markets fell for the second consecutive day on Thursday and the Sensex closed with a fall of more than 300 points. stock market today The fall came after a sharp hike in interest rates by the US Federal Reserve and weak signals from markets around the world. In today’s trade, the 30-share Sensex closed at 59,120 points, down 337 points, or 0.57 percent. During the trading, the Sensex also saw a fall of more than 600 points at one time. At the same time, the Nifty of the National Stock Exchange also closed at 17,630 points, down 88 points, or 0.50 percent.

how was today’s business

PowerGrid, HDFC Bank, HDFC Ltd., Axis Bank, Bajaj Finserv, ICICI Bank and UltraTech Cement were the main losers in the Sensex stocks. On the other hand, the gainers include Titan, Hindustan Unilever, Asian Paints, Maruti and ITC. In other Asian markets, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were among the losers. European stock markets had a declining trend in early trading. The US market declined on Wednesday. Meanwhile, international oil benchmark Brent crude rose 0.55 per cent to $90.32 per barrel. Foreign institutional investors sold shares worth a net Rs 461 crore on Wednesday after two days of buying, according to BSE data.

why the market fell

Vinod Nair, head of research at Geojit Financial Services, said the Federal Reserve has been more aggressive than expected and has indicated a policy rate hike to 4.4 per cent by the end of the year. It is an indication that the interest rate may increase by 1.25 percent in the next two meetings regarding monetary policy. With this the US-dollar index went above 111. The rupee has reached above 80 against the dollar. He said, the Indian stock market managed to maintain its strength with limited downside. But if the rupee continues to depreciate, the market will not be particularly attractive to foreign investors in the short term. This will have an effect on the market.