share market today, Indian stock market excited by Federal Reserve rate hike, sharp fall in Sensex-Nifty – markets in red, sensex trades flat, nifty back above 18000 us fed rate hike effect
The beginning of the Indian market
The market started on a red note today with BSE’s 30-share index Sensex opening at 60,511 with a major decline of 394.52 points or 0.65 per cent. On the other hand, NSE’s 50-share index Nifty opened down 114.50 points or 0.63 per cent at 17,968.
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Market movement in the pre-open
After the Federal Reserve’s decision today, the stock market was in the red at the pre-market start. The BSE Sensex was down 337 points, or 0.55 per cent, at 60,568 in pre-opening. On the other hand, NSE’s Nifty was down 131 points or 0.73 per cent at 17,951.
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Status of Sensex and Nifty
Meanwhile, in the first 10 minutes, only 7 out of 30 shares of the Sensex saw gains and 23 stocks recorded declines. At the same time, 15 out of 50 Nifty stocks are trading higher while 35 stocks are trading lower.
Price hike in America
The US stock market did not like the Federal Reserve’s approach to controlling inflation. Stock markets tumbled after the US central bank, the Federal Reserve, raised interest rates again, and Wall Street, which had been on track for the past few days, fell again. On Wednesday, while the Fed announced its fourth consecutive interest rate hike, the Dow Jones, a major index of American stock exchanges, fell 505 points or 1.55 percent to close at 32,147 after opening. On the other hand, the S&P500 also fell by 2.50 percent. Meanwhile, the Nasdaq Composite fell 3.36 or 336 points to close at 10,524.
