Stock Market Today Live: Market at 3-week low, Sensex breaks 900 points, Nifty breaks 17,600 level
Stock Market Today Live: Adani Enterprises, Adani Ports, Grasim Industries, JSW Steel, and Bajaj Finance are the top Nifty losers. Today the maximum pressure is being seen in the market in Metal, IT, Power, Realty, and Bank-NBFCs. The metal index has slipped about two and a half percent. JSW STEEL, SAIL, and JSPL are seeing a decline of up to 3%.
There is selling pressure in the STOCK MARKET today for the fourth consecutive trading day. Both the domestic equity benchmark indices BSE SENSEX and NIFTY 50 have lost around one and a half percent today. At the same time, the market has broken by more than two percent in four days and investors’ capital has decreased by more than Rs 3 lakh crore. Behind this decline in the market, there are not only domestic but also external reasons. Here six such reasons are being told.
There is selling pressure in the stock market for the fourth consecutive trading day today. Both the domestic equity benchmark index BSE Sensex and Nifty 50 have weakened by about one and a half percent today. At the same time, the market has broken by more than two percent in four days and investors’ capital has decreased by more than Rs 3 lakh crore. Behind this decline in the market, there are not only domestic but also external reasons. Russian President Vladimir Putin’s warning to the West amid the ongoing war between Russia and Ukraine put pressure on the market. There are some other reasons for this, due to which there is selling pressure in the market. Here six such reasons are being told.
Putin’s nuclear warning
Russian President Vladimir Putin warned Western countries in view of the ongoing fighting in Ukraine. Putin has canceled the agreement related to nuclear weapons (Nuclear Orms) and has warned to do nuclear tests. US Secretary of State Antony Blinken called it very unfortunate and irresponsible. At the same time, NATO Secretary General Jens Stoltenberg has also expressed concern that this has increased the danger to the whole world. The Secretary General of NATO has asked Putin to reconsider his decision.
Fed Minutes
The Federal Reserve’s meeting minutes will be released on February 22 and investors are waiting for them. These minutes will give an indication of what will be the future trend regarding the rate hike. It will also be known how many members were in favor of more rate hikes in the Fed meeting and did they tell the need to increase interest rates to deal with rising inflation.
RBI Minutes
The Reserve Bank of India (RBI) is scheduled to release the minutes of this month’s MPC meeting on February 22. Investors are keeping an eye on this because now there will be indications about whether there will be a further rate hike or not. Apart from this, investors will also be watching RBI Deputy Governor Michael Patra’s speech at the first meeting of G-20 Finance Ministers and Governors of Central Banks, which will give an estimate of further trends regarding rate hikes.
Selling in Adani Group Stocks
The shares of Adani Group have been under selling pressure since the report of American short-seller Hindenburg Research. Adani Group has denied stock manipulation and accounting fraud. However, despite this clarification of the group, the fall in Adani Group’s shares did not stop and since January 24, it has reduced by $ 14.2 thousand crores. The biggest decline was in Adani Transmission, Adani Total Gas, and Adani Green. The effect of selling the shares of Adani Group was also visible on the entire stock market.
FII selling
Foreign institutional investors (FIIs) have been offloading Indian stocks since the beginning of this year. FIIs sold shares worth $337 million this year. However, now the situation seems to be reversing as foreign investors started buying shares last week. Some analysts believe that due to the fall in the share price, foreign investors are considering it attractive for investment, due to which there has been a change in the trend.
December quarter results
In the third quarter October-December 2022 of the current financial year 2022-23, the profits of the companies were mixed. Corporate earnings came in below analysts’ estimates due to sluggish demand. The commodities sector fared badly but the financials and auto sector performed better in December 2022 quarter. However, analysts are looking very positively at the way forward. Analysts believe that a good rabi crop and a fall in CPI inflation could boost demand.
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