Advertisements
News

Sensex falls 337 points post US Federal Reserve interest rate hike, Nifty closes at 17,629 points | Markets News

Sensex falls 337 points post US Federal Reserve interest rate hike, Nifty closes at 17,629 points | Markets News
Written by bobby
Advertisements

Mumbai: The Indian Stock Market’s benchmark index BSE Sensex closed at 59,119 after falling 337 points on Thursday following the US Federal Reserve hiked interest rate by 75 basis points. It indicated that the borrowing costs would be increased further in the coming months.

(ALSO READ | E-commerce site Meesho gives 11-day BREAK to its employees for mental health)

Earlier, the Sensex started the day in the red at 59,073 points. It slipped to a low of 58,832 points. Sensex had lost 263 points on Wednesday.

(ALSO READ | Bank Holidays 2022: Banks to be closed for 21 Days in October, Check full list)

The NSE Nifty 50 slumped to 17,629 points by falling 88.55 points or 0.5% against its previous day’s close at 17,718 points. The stock markets slumped across the world after the US Federal Reserve on Wednesday increased its policy interest rate by 75 basis points. The Fed also raised its target interest rate by three-quarters of a percentage point to a range of 3 to 3.25 per cent.

Power Grid Corporation, Bajaj Finserv, UltraTech Cement, HDFC, Kotak Bank, Tech Mahindra and Tata Steel were among the major Sensex losers. Asian Paints, Maruti Suzuki, ITC, Dr Reddy`s Laboratories, Sun Pharma, Bharti Airtel and Mahindra & Mahindra were among the major Sensex gainers. 

(With ANI Inputs)

Source link

About the author

bobby

Leave a Comment