Amid weak global signals, there was chaos in the domestic stock market on Friday in the last session of the week. At the end of trading today, the Bombay Stock Exchange index Sensex plunged by 793.25 points and closed at the level of 74244.90. Similarly, the National Stock Exchange benchmark Nifty also fell 234.40 points and closed at the level of 22519.40. BSE Midcap and Smallcap indices weakened by 0.5 per cent during the trading session. Nifty Bank fell 422 points or 0.86% to 48,564.55.
Investor caution also contributed
According to the news, all-round buying was seen in the stock market today. Investor caution ahead of IT sector major TCS’s March quarter data also contributed to the decline in the Indian stock market. According to the news, selling was seen in shares of oil, gas, FMCG and pharma companies on Friday.
Fluctuations in these stocks
During trading, Divis Lab, Bajaj Auto, Tata Consumer Products, Tata Motors and TCS were the top gainers in Nifty 50. While Sun Pharma, Maruti Suzuki, Power Grid, Titan and ONGC stocks were major laggards in Nifty 50. Moreover, the US dollar and 10-year Treasury yields were trading near their five-month highs on Friday. It is being said that investors now expect the Fed to delay the rate cut beyond June. There is also growing concern that the US central bank may not make any substantial rate cuts.
The Fed is expected to reduce its key funds rate by less than 50 bps this year, experts said. It seems that there is no dearth of concerns in the market. Apart from inflation and elevated geopolitical tensions, rising geopolitical tensions are also a major concern for the market.
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