Due to profit-taking on Friday on concerns about a US Federal Reserve rate hike, the Sensex and Nifty market indices fell. The Nifty50 closed at 19,332, down 165 points, while the BSE Sensex ended the day at 65,280.
Tata Motors, Titan, M&M, SBI, and TCS all recorded advances on the largest-cap Sensex platform. The BSE Midcap index and the Smallcap index both experienced declines in the largest-cap broader markets of 0.8% and 0.28%, respectively.
Sensex declines
FMCG, Power, and Realty sectors all experienced 1% declines at the close of the day, except Auto and PSU Bank.
Due to overnight losses in US equities, global markets, including those in Hong Kong, China, Japan, and Australia, dropped up to 1.7%.
- Sensex and Nifty fall due to profit-taking amid Fed rate hike concerns.
- US equities losses cause global market drop by 1.7%.
- US job market resilient, Federal Reserve may maintain higher interest rates.
Investors worry that a robust labor market could force the US Federal Reserve to maintain higher interest rates for a longer period to combat excessive inflation. The US job market is still more resilient than anticipated.
To reach $76.70 a barrel, Brent crude increased by 0.25 percent. Foreign institutional investors (FIIs) continued their buying binge on Thursday by purchasing shares worth Rs 2,641.05 crore.
The rupee lost 13 paise more against the US dollar as a result of local market losses and an increase in the price of crude oil.
