The stock market has been falling continuously for the last 5 sessions. Not falling but diving everyday. On May 5, the Sensex opened at 56,255.07 and closed at 55702. Since then, the trend of decline has been such that it is not taking its name to stop. Since May 5, the Sensex has dived 3143 points. Let us tell you that October 19, 2021 was a historic day for the stock market, when the Sensex touched the all-time high of 62245.43. After about 8 months, till now the Sensex has fallen by 9133 points from the all-time high.
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Inflation data released in the US beat the Sensex-Nifty on Thursday morning. The US CPI print fell to 8.3 per cent in April from 8.5 per cent in March, but still exceeds analysts’ estimates of 8.1 per cent. It is being said that inflation may be at its peak in the world’s largest economy.
The second major reason for the decline is the strength of the dollar
Markets in Asia slumped to a near two-decade high after inflation data in the US hurt emerging market stocks. The dollar index was at 103.92. Most of the Asian stocks were trading in the red today. MSCI’s index of Asia-Pacific shares outside Japan fell 0.92 per cent. Japan’s Nikkei closed down 1.01 per cent, Hong Kong’s Hang Seng 1.05 per cent and South Korea’s Kospi fell 0.36 per cent.
foreign investors exit the market
Foreign portfolio investors (FPIs) were net sellers of domestic equities at Rs 3,609.35 crore on Wednesday. FPI outflows have reached Rs 17,403 crore in May and Rs 1,44,565 crore in 2022. FII selling is likely to continue with the dollar index expected to further strengthen at 104.
