In the broader market, the BSE midcap gauge rose 0.75 per cent and smallcap index gained 0.49 per cent.Īmong sectoral indices, metal dipped 4 per cent, utilities fell 1.26 per cent, Power declined 1.01 per cent, IT (0.67 per cent) and tech (0.65 per cent). State Bank of India closed marginally up 0.17 per cent after finance minister Nirmala Sitharaman said that banks and insurance companies are ‘not overexposed’ to any one company and assured that Indian markets are very well managed by its regulators. On the other hand, IndusInd Bank, Bajaj Finance, PowerGrid and ITC were among the major winners. On Monday Tata Steel was the biggest loser in the Sensex pack, falling 2.08 per cent, followed by Kotak Bank, Infosys, ICICI Bank, M&M, Ultra Cement and Tata Motors. “The RBI’s policy announcement on Wednesday will provide more colour on its future rate actions, which is expected to hike rate by 25bps," news agency PTI quoted Vinod Nair, Head of Research at Geojit Financial Services, as saying. This was in contrast to the recent rally in the global indices on the expectation that the economy is in its last phase of policy tightening. “A strong job market in the United States pushed the global market lower on rate hike fears, as it offers the Fed more leeway in enacting stricter policy measures. The broader NSE Nifty dipped 89.45 points or 0.50 per cent to close at 17,764.60 as 34 of its stocks dropped. ![]() During the session, the index fell over 500 points to touch its intra-day low of 60,345.61. Snapping its five-day gaining streak, the BSE Sensex settled lower by 334.98 points or 0.55 per cent at 60,506.90. Moreover, Sensex and Nifty declined by more than half a per cent at close on Monday due to selling in IT, power and metal shares triggered by a global equity meltdown on rate hike fears and FII outflows. A recovery was seen in the second half of the day as US futures inched higher as investors await Powell’s speech," Vinod Nair, Head of Research at Geojit Financial Services told Moneycontrol. Global markets are currently driven by central bank policies and the surge in bond yields in expectation of more rate actions. “Sentiments in the domestic market were hammered by bears that dominated the US market post the release of strong jobs data. Most sectors ended in the red with minor gains in capital goods, realty and private banking sectors. ![]() Sensex opened at 60,511.32, while Nifty 50 started with 17,790.10 on Tuesday. Meanwhile, Rupee gained 5 paise to close at 82.71 (provisional) against US dollar. Sensex saw 76.15 points rise to 60,583.05 points in early trade on Tuesday and Nifty 50 gained 29.20 points to 17,793.80 points. ![]() Sensex declined by by 220.86 points to settle at 60,286.04 on Tuesday.
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