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Stock market: Sensex plunges 500 points due to falling global markets, Nifty also drops 150 points

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Photo:PTI stock Exchange

Sotck exchange : The effect of the sharp drop in Asian stock markets, including America, is being felt in the Indian market. There is a huge sell-off in the Indian market at the start of the trade. Sensex lost over 500 points when it opened. The Sensex is trading at 60,036.17 points down from 534.91 points. Nifty is also trading 150.75 points down from 17,919.30 points. There is a decline of 22 stocks included in the Sensex. At the same time, NTPC, SBIN, INDUSINDBK, ITC, POWERGRID, MARUTI, BAJAJFINSV, ASIANPAINT and ULTRACEMCO recorded gains. Infosys lost 3.77% of Nifty shares in today’s trading. Tech Mahindra slid 2.08% and TCS is trading down 3.05%. HCL Tech is down 2.60% and Wipro down 1.50%.

Sharp drop in the global market

The US market fell sharply on Tuesday due to higher than expected inflation rates in the United States. The US inflation rate reached 8.3% in August. After that, a big interest rate hike by the US Fed is expected. Experts say the US Fed could raise interest rates by 75 basis points. At this rate, the Dow fell 1,276 points to close at 31,105 at the end of Tuesday’s trading session. Meanwhile, the Nasdaq fell 633 points to the 11,634 level. The Asian market broke two and a half percent and the SGSX Nifty fell 300 points. The Federal Reserve will make its decision at its meeting on September 20.21.

There was a rise in the stock market for the fourth consecutive day

The bullish trend in stock markets continued for the fourth consecutive trading session on Tuesday. The National Stock Exchange’s Nifty climbed more than 133 points to close above the 18,000 mark for the first time since April 4. Continued buying by foreign institutional investors and rising global markets saw gains in the domestic stock market. Continuing its rally for the fourth straight trading session, the 30-stock BSE Sensex closed at 60,571.08, up 455.95 points, or 0.76%. Over the past three trading sessions, the Sensex had gained over 1,540 points and the Nifty had gained 445 points.

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