ANI
22 Sep 2022, 21:18 GMT+10
Mumbai (Maharashtra) [India], September 22 (ANI): The Indian stock market's benchmark Sensex fell 337 points on Thursday after the US Federal Reserve hiked interest rate by 75 basis points and signaled that the borrowing costs would be increased further in the coming months.
The 30 stock SP BSE Sensex closed 337.06 points or 0.57 per cent down at 59,119.72 points against its previous day's close at 59,456.78 points.
Earlier, the Sensex started the day in the red at 59,073.84 points slumped to a low of 58,832.78 points. The Sensex rose to a high of 59,457.58 points in the intra-day.
The markets fell sharply for the third consecutive session. The Sensex had lost 262.96 points or 0.44 per cent on Wednesday.
The broader Nifty 50 of the National Stock Exchange fell 88.55 points or 0.5 per cent to 17,629.80 points against its previous day's close at 17,718.35 points.
The Nifty had lost 97.90 points or 0.55 per cent on Wednesday.
The stock markets slumped across the world after the US Federal Reserve on Wednesday increased its policy interest rate by 75 basis points. The Fed also raised its target interest rate by three-quarters of a percentage point to a range of 3 to 3.25 per cent.
Banking stocks witnessed heavy selling pressure. HDFC Bank slumped 2.18 per cent to Rs 1485.70. Axis Bank dipped 2.09 per cent to Rs 789.10. ICICI Bank dipped 1.37 per cent to Rs 902.85. State Bank of India closed 0.42 per cent down at Rs 567.40.
The index heavyweight Reliance Industries Limited closed 0.93 per cent down at Rs 2485.90.
Power Grid Corporation, Bajaj Finserv, UltraTech Cement, HDFC, Kotak Bank, Tech Mahindra and Tata Steel were among the major Sensex losers.
Titan surged 2.80 per cent to Rs 2739.80. Hindustan Unilever jumped 2.64 per cent to Rs 2693.05.
Asian Paints, Maruti Suzuki, ITC, Dr Reddy's Laboratories, Sun Pharma, Bharti Airtel and MahindraMahindra were among the major Sensex gainers. (ANI)
Get a daily dose of Iraq Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Iraq Sun.
More InformationMURCIA, Spain: Authorities said a nightclub fire over the weekend in the southeastern Spanish city of Murcia killed 13 people ...
SAN FRANCISCO, California: To resolve a pending litigation with the Oregon affiliate of the International Container Terminal Services Inc (ICTSI), ...
PANAMA CITY, Panama: On September 30, the Panama Canal said that due to a drought that has reduced the supply ...
TRIPOLI, Libya: Italy and Libya resumed commercial flights for the first time in ten years on September 30, with flight ...
SAINT GEORGE, Maine: A fire destroyed several waterfront buildings in Maine on September 29, including an art gallery with several ...
JAKARTA, Indonesia - According to Asian diplomats and the Philippines' president, Southeast Asian leaders have decided that Myanmar will not ...
JEDDAH, Saudi Arabia: As part of Riyadh's efforts to further Saudi Arabia's electrification drive, electric vehicle (EV) maker Lucid announced ...
BRASILIA, 4th October, 2023 (WAM) -- H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, has met with ...
ABU DHABI, 4th October, 2023 (WAM) -- President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message ...
Islamabad [Pakistan], October 4 (ANI): The federal government is considering selling the shares it now owns in the Reko Diq ...
Hangzhou [China], October 4 (ANI): Indian athletes Majnu Rani and Ram Baboo secured a bronze medal in the 35 m ...
Namangan [Uzbekistan], October 4 (ANI): Mumbai City FC suffered their second straight defeat in Group D of the Asian Football ...