Saturday, 20 July 2024
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Sensex closes 150 points below the day’s low; Nifty is at 20,850

  • Wednesday saw significant declines in benchmark equity indices.
  • Both the Nifty and the Sensex saw significant losses during the mid-market session.
  • India’s retail inflation rate in November experienced its fastest increase in three months, coming in at 5.55%.

Wednesday saw significant declines in benchmark equity indices as IT stocks dropped more than 2% in anticipation of the US Federal Reserve’s interest rate decision.

Both the Nifty and the Sensex saw significant losses during the mid-market session before recovering somewhat, though still slightly. Trader anxiety was tempered by domestic and US inflation data, which suggested that interest rate cuts might be delayed.

Sensex and Nifty

Rising from 4.87% in October and 5.02% in September, India‘s retail inflation rate in November experienced its fastest increase in three months, coming in at 5.55%.

Driven by the mining, manufacturing, and electricity sectors, India’s industrial output reached a 16-month high of 11.7% in October. Trading at about 83.38 against the US dollar, the Indian rupee remained stable.

As investors awaited the year’s last Federal Reserve decision, stock markets in Asia displayed erratic results after a relatively muted turnover on Wall Street. Over the course of the next two to three years, automaker Anmol India plans to invest ₹8.75 billion in its Classic Legends unit.

New shares were issued by Titagarh Rail Systems Ltd to Qualified Institutional Buyers, raising ₹699.9 crore. The generic form of pantoprazole sodium delayed-release tablets, which are often prescribed for the short-term treatment of erosive esophagitis, a condition associated with gastroesophageal reflux disease, has received approval from the US Food and Drug Administration. Granules India Ltd.

Registration for the initial public offerings of DOMS Industries and India Shelter Finance began today. Doms Industries IPO should be avoided in favor of India Shelter Finance IPO, according to Vinit Bolinjkar, head of research at Ventura Securities.

The container freight stations (CFS) of Anmol India saw a 2% year-over-year increase in volume in November, but a 13% quarter-over-quarter decline. In the long run, the company’s shares could reach ₹87 per share.

As traders awaited the Federal Reserve’s final policy announcement of the year and indications regarding the possibility of rate cuts the following year, global shares were mixed.

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