Business

Equity Market Opens On Negative Note; Sensex Slides 225 Points

Benchmark equity indices Sensex and Nifty declined in early trade on Wednesday amid mixed trends in global markets as investors remained cautious awaiting cues on the interest rate trajectory in the US. BSE Sensex slumped 225.95 points or 0.37 per cent to 60,806.31 points while NSE Nifty dropped 54.50 points to 17,875.35 points.

Except for eight stocks, including Reliance Industries, State Bank of India, and Maruti, the rest of the 22 shares in the Sensex pack were trading in the negative territory.
The negative opening for the domestic market comes a day after the 30-share Sensex surged 600.42 points or 0.99 per cent to close at 61,032.26 points on Tuesday.
The broader NSE Nifty too had jumped 158.95 points or 0.89 per cent to finish at 17,929.85 points.

Also read : Rupee Falls 12 Paise To 82.90 Against US Dollar

On Wednesday, Asian stocks, including in Japan, China, and Hong Kong, were trading in the red. On Tuesday, European and US markets closed on a mixed note.
Deepak Jasani, Head of Retail Research at HDFC Securities, said Asian stocks and US equity futures fell on Wednesday as investors weighed hot American inflation data and mixed commentary from central bankers on the outlook for interest rates.

In the US, the January consumer-price index showed the cost of living rising 6.4 per cent year-over-year, down from 6.5 per cent in December but higher than the Wall Street forecast of 6.2 per cent. Foreign Portfolio Investors were net buyers, acquiring shares worth Rs 1,305.30 crore on Tuesday.

Bharat Express English

Recent Posts

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

5 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

5 hours ago

Chhattisgarh: Seven Maoists Killed In Indravati National Park Operation

Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…

6 hours ago

Carney Invites Modi To G7 Summit, Highlights India’s Global Supply Chain Role

Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…

6 hours ago

RBI Frontloads Rate Cuts To Boost Growth Amid Low Inflation: Crisil

The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…

7 hours ago

PM Modi Urges Global Action On Coastal Resilience At Nice Summit

PM Narendra Modi on Saturday called for urgent global action to build infrastructure that can…

7 hours ago