Thursday, 18 April 2024
Trending
Stock Market

Sensex declines over 700 and the Nifty closes above 22,800

  • The BSE Sensex retreated more than 700 points, or 1.01%, to settle at 72,012.05.
  • The Nifty Midcap 100 closed at 45,926.30, down over 600 points, or 1.24%.
  • Due to the strong US dollar, sluggish local markets, rising crude oil prices, and FII outflows, the Indian Rupee fell by 0.09%.

The sell-off in the IT and FMCG sectors caused the benchmark equity indices to close lower on March 19. The BSE Sensex retreated more than 700 points, or 1.01%, to settle at 72,012.05.

The NSE Nifty 50 closed 238 points, or 1.08% lower. But the larger indices ended the day lower, with pressure on midcap and smallcap companies. The Nifty Midcap 100 closed at 45,926.30, down over 600 points, or 1.24%.

Sensex and Nifty

Eicher Motors, Bharti Airtel, Kotak Bank, Bajaj Auto, and Bajaj Finance were the biggest gainers in the Nifty 50. The main losers in the Nifty 50 on March 19 were BPCL, TCS, Cipla, Tata Consumer Products, and Dr. Reddy’s Laboratories.

From its previous price of Rs 1,415.20, Patanjali Foods shares dropped more than 5.2% to an intraday low of Rs 1,341.45. Due to the strong US dollar, sluggish local markets, rising crude oil prices, and FII outflows, the Indian Rupee fell by 0.09% on Tuesday.

The Bank of Japan hiked interest rates for the first time since 2017, ending its negative interest rate regime and doing away with its yield curve control (YCC), which helped the US Dollar gain strength against the weakening yen.

Because of the strong dollar and the likelihood of an unchanged US monetary policy later this week, the Rupee is expected to trade with a negative bias on risk aversion in global markets. Global risk perceptions also declined as a result of stable crude oil prices and heightened geopolitical tensions between Russia and Ukraine.

Related posts
Stock Market

Sanghvi Movers shares are up 2765% in four years

Sanghvi Movers has regularly given investors positive returns. The company is the biggest crane…
Read more
EuropeStock Market

Global markets are at risk due to distressingly high rates

International equities are still hovering around all-time highs, and demand for debt issued by the…
Read more
Stock Market

Stocks on the NSE reached 52-week highs

The benchmark NSE Nifty index dropped 76.66 points as a result of selling in bluechip…
Read more
Newsletter
Become a Trendsetter

To get your breaking, trending, latest news immediately without diluting its truthfulness join with worldmagzine immediately.

Leave a Reply

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

CryptoCrypto Exchange

BNB Price is Trying Hard to Form a New ATH

Worth reading...