Why Share Market Fall Today: Why did the market falter today? Investors sold fiercely, IRCTC also broke – why share market down today irctc share also fall
US Fed hikes interest rates by half a percentage point
The US central bank Federal Reserve raised key interest rates once again on Wednesday. The Fed raised interest rates by half a percentage point. Along with this, the Fed also projected an additional increase in interest rates by at least 0.75 percent by the end of 2023. Apart from this, Fed has estimated GDP growth of 0.5 percent in the year 2023. This is lower than the estimate of 1.2 per cent made in September. After this decision of the Fed, there was a decline in the US stock market. Its effect was seen in the Indian markets today.
condition of sensex shares
condition of nifty stocks
Heavy fall in IRCTC stock amid OFS
The government is selling up to 5 per cent stake in IRCTC. The stake is being sold through an offer for sale. This OFS has been floated on the stock exchanges on Thursday and Friday. But in the meantime, there was a huge decline in the company’s share (IRCTC Share) today. Shares of IRCTC fell 6.19 per cent or Rs 45.50 to close at Rs 689.20 on Thursday. It opened today at Rs.698. It went up to a maximum of Rs 702.75 and a minimum of Rs 687 during the trading session. The price for the OFS of IRCTC has been kept at Rs 680 per share. Retail investors can bid in this OFS on Friday.
Fear of recession in the global economy
Vinod Nair, Head of Research, Geojit Financial Services, said, “The Fed’s accommodative stance spooked the market as investors were expecting a dovish stance on better-than-expected inflation numbers.” He said, “After the statement of the Federal Reserve, fear of a slowdown in the global economy created an atmosphere of pessimism in the IT stocks in the domestic market. The market now awaits the decisions of the Bank of England (BoE) and the European Central Bank (ECB). Both of these can also increase the policy rate by half a percent.
condition of global markets
South Korea’s Cospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hangseng were among the losers in other Asian markets. Major markets in Europe were in a negative trend in early trade. US stock markets were in loss on Wednesday. Meanwhile, international oil benchmark Brent crude declined 0.77 per cent to USD 82.06 per barrel. Foreign institutional investors remained net buyers on Wednesday, according to stock market data. He bought shares worth Rs 372.16 crore.