Share Market Live Update: On Friday, the last trading day of the week, the stock market opened with a heavy fall. Even before this, on Wednesday, after the announcement of increasing the repo rate by the Reserve Bank, it closed with a huge fall. Today the Bombay Stock Exchange’s 30-share key sensitive index Sensex opened with a loss of 773 points at 54928, while Nifty also started trading with a heavy fall.
US stock market also collapsed
Like the Indian markets, the US stock markets also did not like the Fed Reserve’s decision to increase interest rates there. On Thursday, the major sensitive index of the US stock market, the Dowjons, fell 3.12 percent or 1063 points. Nasdaq also dived 4.99 per cent and the S&P closed down 153 points, or 3.56 per cent.
There is an outcry in the US stock market, Amazon, Tesla, Facebook shares fall, may have an impact in the domestic market
Amazon’s shares closed 7.56%, Facebook’s shares 6.77%, while Tesla’s shares closed down 8.33%. Its effect is also visible on the domestic stock market today. All the stocks were in the red mark except Reliance Industries in the pre-opening. The Sensex was down 773 points, while the Nifty had come down to the level of 16415.
Sensex down by 900 points in early trade 54,801.53 level of business. At the same time, Nifty was trading at the level of 16,443.40 with a dive of 239.25 points. Only two stocks were on the green mark on the Sensex.
why the market is falling
Global markets have been hit this year by several crises including rising inflation, rising interest rates, China’s economic slowdown and the war in Ukraine. At the same time, the Indian stock market and rupee fell sharply in view of weak global cues. The Indian rupee today depreciated against the US dollar. The Indian currency fell to 76.64 against the dollar as compared to its previous close of Rs 76.26.
Rohit Nigam of Hem Securities said, “US markets witnessed a relief rally on Wednesday after the FOMC meeting, but fell on Thursday due to higher concerns over rising interest rates. The pound also fell on fears of a UK recession. Analysts say US non-farm payrolls data and unemployment rates to be announced today could set the course of global markets.
Asian shares fell today after Wall Street rallied on rising interest rates and rising inflation concerns. At the same time, crude oil rose after major oil producers led by Saudi Arabia and Russia refused to lift output beyond their planned marginal growth as they weighed on tight supply concerns caused by the Ukraine war.
Adani Power’s net profit reaches Rs 4,645 crore
Adani Power’s consolidated net profit jumped to Rs 4,645.47 crore in the January-March quarter of 2021-22 from Rs 13.13 crore in the same quarter a year ago. The company said that its total income increased to Rs 13,307.92 crore for the quarter ended March 31, 2022 from Rs 6,902.01 crore in the same quarter a year ago. Adani Power’s consolidated net profit rose to Rs 4,911.58 crore in 2021-22 from Rs 1,269.98 crore a year ago.
Dabur India net profit down 22 per cent in Q4
Daily use products maker Dabur India Limited reported a 21.98 percent decline in consolidated net profit at Rs 294.34 crore for the fourth quarter ended March 2022. The company had made a net profit of Rs 377.29 crore in the same quarter of 2020-21 a year ago. Dabur has now become a Rs 10,000 crore company in terms of business. The company’s income reached Rs 10,888.68 crore in 2021-22. Its operating income rose 7.74 per cent to Rs 2,517.81 crore during the quarter under review, as against Rs 2,336.79 crore in the year-ago quarter. The company’s total expenses stood at Rs 2,141.04 crore in the fourth quarter of FY 2021-22, an increase of 8.7 per cent from Rs 1,969.54 crore in the fourth quarter of FY 2020-21.