29 November 2022

Mumbai : Benchmark BSE Sensex declined by 390 points on Thursday, following heavy selling in banking, finance, and capital goods stocks due. to inflation and growth concerns A weak rupee and rising crude prices also impacted the market sentiment, traders said.

The 30 – share BSE Sensex declined 391 points to settle at 57,235, Likewise, the broader NSE Nifty fell 109 points to end at 17,014. Wipro was the top loser in the Sensex pack, shedding 7 %, followed by SBI, L & T, ICICI Bank, Asian Paints, Bajaj Finance, and HDFC twins. On the other hand, HCL Tech, Sun Pharma, Dr. Reddy’s, Reliance Industries, and Ultra Tech Cement were among the gainers, rising up to 3.2 %.

Vinod Nair, head of research at Geojit Financial Services, ” Retail inflation persisting above the desired levels has been a major cause of concern for the Indian economy. This, coupled with declining industrial production in August may not be taken well by the market because the Indian economy is anticipated to sustain its resilience.

pts on inflation, growth worry
pts on inflation, growth worry

“Against this backdrop, the impending US inflation figures, which are forecasted to remain high, may cause volatility in the global market. “

In Asian markets, bourses in Tokyo, Shanghai, Hong Kong, and Seoul closed in the red. However, stock exchanges in Europe were trading with gains in mid-session deals. The international oil benchmark Brent crude futures increased by 0.3 % to $ 92.7 per barrel.

Home Facebook Tour Graphic Design Grocery Karnataka Rishikesh Dandeli Fashion

Leave a Reply

Your email address will not be published. Required fields are marked *