ANI
22 Sep 2022, 16:48 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 InformationCNN - In a recent interview with CNN's Christiane Amanpour, Canadian Foreign Minister Mélanie Joly expressed strong opposition to President...
NEWARK, New Jersey: Over the weekend, a FedEx Boeing 767 cargo plane hit a bird while taking off from Newark Airport. One of its...
WASHINGTON, D.C.: The Pentagon told its civilian employees that they must provide a list of five bullet points detailing their accomplishments...
MELBOURNE, Australia: An Australian warship rescued Lithuanian adventurer Aurimas Mockus this week after he became stranded in the...
WASHINGTON, D.C.: The U.S. is sending about 3,000 more soldiers to the U.S.-Mexico border as President Donald Trump pushes to stop...
ANNAPOLIS, Maryland: Maryland's largest managed care organization for Medicaid recipients has had its accreditation suspended, prompting...
CAIRO, Egypt - UN Secretary-General Antonio Guterres has warned of the 'alarming situation' unfolding in the West Bank, and says the...
Syrian security forces are seen on the Tartous-Latakia highway in Latakia province, northwestern Syria, on March 7, 2025. (Str/Xinhua)...
GAZA, 7th March, 2025 (WAM) -- UN Human Rights Office in Palestine said Friday that Israel has a legal obligation to ensure the provision...
People gather for a group Ramadan iftar amid rubble of destroyed buildings in the north of Gaza City, on March 6, 2025. (Photo by Rizek...
(250307) -- LATAKIA (SYRIA), March 7, 2025 (Xinhua) -- Syrian security forces are seen on the Tartous-Latakia highway in Latakia province,...
Kiev is more difficult to deal with than Moscow, the US president has said Washington will cease all assistance to Kiev if it fails...