Today the stock market has closed with a fall. Sensex and Nifty have lost more than 1.5 percent on Friday. The decision of the US Fed meeting on Wednesday has also had an impact on the Indian market.
Today the stock market has closed with a fall.
Today the stock market has closed with a fall. Sensex and Nifty have lost more than 1.5 percent on Friday. The decision of the US Fed meeting on Wednesday has also had an impact on the Indian market. The BSE Sensex closed at 58,098.92, down 1020.80 points or 1.73 per cent. It had also crossed the 58,000 level during the day’s trading. At the same time, NSE Nifty closed at 17,327.35 with a loss of 302.45 points or 1.72 per cent.
Share market investors have lost Rs 4.9 lakh crore due to today’s fall. The market cap of all BSE listed companies has come down to Rs 276.6 lakh crore. Let us know in detail the reasons behind the decline in the stock market.
Federal Reserve’s decision
The US Federal Reserve had announced a huge increase of 75 basis points in the policy rate in the country. Investors across the world were not expecting such an aggressive approach by the world’s most powerful central bank. Now the market is worried about the fact that the Fed will take an aggressive approach in the next meeting and increase it by 75 basis points.
pressure on rupee
The Indian rupee has crossed the figure of 81 for the first time against the US dollar. This has put additional pressure on the Indian stock market. The depreciating rupee has made India less attractive to foreign institutional investors.
The benchmark 10-year US Treasury yield also jumped to 3.7180 per cent, its highest level since 2011. Whereas, the two-year yield has reached a 15-year high on Thursday. In India, the yield of government bonds here stood at 7.3821 per cent and it has increased by 20 basis points cumulatively during the last seven sessions.
Where overnight the Dow Jones has seen a decline of 0.4 percent and the Nasdaq 1.4 percent. At the same time, other Asian markets have also been under pressure for the third consecutive day. Where the Japanese market remained closed on the occasion of the holiday. On the other hand, the Shanghai Composite Index fell 0.3 percent to 3,098.87.