HomeEconomySensex Plummets Over 900 pts, Rs 3.8 L Cr Investor Wealth Lost;...

Sensex Plummets Over 900 pts, Rs 3.8 L Cr Investor Wealth Lost; Why is Market Falling Today


Last Updated: February 22, 2023, 15:10 IST

The Sensex on Tuesday opened higher by about 80 points at 60,770.34, compared with the previous close of 60,691.54.

In the last 4 trading sessions, Sensex has lost over 1,500 points, with investors left poorer by nearly Rs 7 lakh crore.

Market Crash Today: Sensex, Nifty on Wednesday dropped for the fourth session to hit over two-week low tracking losses in global equities. Sensex crashed over 900 points while Nifty gave up its support at the 17,600 level during the session. Both Sensex and Nifty lost around 1.46 percent and 2.71 percent so far this year

Among the global markets, S&P500 and Dow Jones lost 2 per cent each while Asia Nikkei fell 1.4 percent and Heng Seng slipped 0.3 per cent.

Today’s loss in market capitalisation was at Rs 3.8 lakh crore as the market value of all listed companies on BSE dropped to Rs 261.4 lakh crore. In the last 4 trading sessions, Sensex has lost over 1,500 points, with investors left poorer by nearly Rs 7 lakh crore.

Gloom Over Global Markets

Wall Street reported its worst day so far in 2023 on Tuesday. The S&P 500 fell 2%, its sharpest drop since the market was selling off in December. The Dow Jones Industrial Average lost 697 points, or 2.1%, while the Nasdaq composite sank 2.5%.

Other Asian stocks, too, were under pressure today. Japan’s Nikkei lost 1.34% to close at a one-month low.

Fed minutes

Global markets are on edge as investors brace themselves for the release of the Federal Reserve meeting minutes later on February 22. There is concern that the minutes will show US policymakers remaining resolutely hawkish, which has led to a drop in market sentiment. The minutes are expected to reveal how many members saw the case for a larger hike at the January 31 to February 1 meeting, and whether they anticipated the need to raise interest rates higher than previously thought to tackle inflation. This comes as the recent US producer price index rebounded more than expected in January, leading to talks about the need for further interest rate hikes in the coming months. Investors are closely monitoring the Fed’s stance on interest rates and inflation, as it could have significant implications for the global economy.

RBI minutes

The Reserve Bank of India is set to release the minutes of its February rate-setting panel meeting later on February 22 and investors are keeping a close watch on them for cues on the trajectory of rate hikes. The minutes will provide insight into the RBI’s decision-making process and may give an indication of whether there will be any further rate hikes in the near future. Additionally, investors will be paying attention to RBI Deputy Governor Michal Patra’s speech at the first G20 Finance Ministers and Central Bank Governors meeting and the second G20 Finance and Central Bank Deputies Meetings for any clues on potential rate hikes.

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