Benchmark stock market indices fell sharply on Thursday, despite Adani Group’s continued rally, due to global concerns and sectoral weaknesses.
Shakiness in Market Essential Areas: The decrease in domestic markets was caused by equities in IT and autos. Major players like M&M, Power Grid, and TCS made a substantial contribution to the sell-off. With losses of up to 3% for Infosys, HCL Tech, and Tech Mahindra, the Nifty IT index fell more than 2%.
Causes of Volatility in Sensex
- The fluctuations of crude oil and currency
- US inflation data has raised concerns over potential Federal Reserve rate cuts.
- Shakiness In Auto & IT sector
- Foreign Institutional Investment -selling in last few days increasing
Thursday saw a dramatic drop in benchmark stock market indices, wiping out gains from the previous session as the S&P BSE Sensex fell more than 1,100 points. Investor mood was significantly impacted by sectoral weaknesses and global concerns, even though Adani Group stocks continued to rise. The Nifty50 dropped 360.75 points to 23,914.15, while the Sensex was down 1190.34 points at 79,043.74 at the closing bell.
FII SELLING Domestic institutional investors (DIIs) made net purchases of Rs 1,301 crore, while FIIs sold Indian equities worth more than Rs 11,000 crore following three days of buying. Currency and Crude Oil Volatility The Indian rupee plummeted 6 paise versus the US dollar, indicating that a stronger dollar will h
ave an impact on emerging markets. Crude oil prices remained erratic, while a surprising increase in US gasoline stocks fueled market concerns about growing demand. Sectors experiencing volatility include IT and auto stocks. US inflation data raises fears about Fed rate cuts.
