Share Market Update Today: All markets, including India, were affected today due to the fear of increase in rates by the US Federal Reserve. The market expects an increase of 75 basis points from the Fed Reserve, but there is a possibility that the increase could be up to 100 basis points.
However, Indian benchmark indices closed on a negative note. BSE Sensex lost 350 points at 59,356 and Nifty closed 98 points lower at 17,718.
The fall in these shares
Shree Cements declined 6 per cent, while Adani Ports, PowerGrid and IndusInd Bank also declined 3 per cent. In today’s trade, shares of Britannia, ITC, Nestle India, Mahindra & Mahindra, Hindustan Unilever Limited (HUL), Tata Steel, Bharti Airtel, Maruti Suzuki, Sun Pharma, ITC were the top gainers in the Sensex. IndusInd Bank, Infosys, HDFC, TCS, ICICI Bank, Kotak Mahindra Bank, Wipro, HCL Tech were among the top losers. Bank Nifty index was down 0.3 per cent at 41339 level.
These shares closed in red mark
Among the sectors, metals, pharma, realty and oil and gas closed in the red with a fall of over one per cent. FMCG remained stable and closed in the green with a gain of over one per cent.
Asian stocks fall
Asian stocks also declined today. Japanese shares hit their lowest level in more than two months as investors feared key policy meetings from the Fed and the Bank of Japan this week. Nikkei shares averaged 1.36 per cent lower, its lowest since July 19. is the lowest level. China’s blue-chip stock today closed at its lowest level in more than four months.
European stocks fall
Hong Kong’s main stock benchmark fell to its lowest level since mid-March. The CSI 300 index closed 0.7 per cent and the Shanghai Composite Index down 0.2 per cent. The Hang Sang index fell 1.8 per cent. European stocks fell, mainly due to Russia’s increasing military action in Ukraine.