Market Reality
India's equity markets, long buoyed by strong economic growth and rising corporate earnings, are now facing a sharp and prolonged correction.
India's equity markets, long buoyed by strong economic growth and rising corporate earnings, are now facing a sharp and prolonged correction.
The stock market extended the losses to the fourth session on Wednesday and ended marginally lower in the highly volatile session. At close, the Sensex was down 28.21 points or 0.04% at 75,939.18, andthe Nifty was down 12.40 points or 0.05% at 22,932.90.
On the losing side were Indusind Bank (2.30%), Trent (1.94%), Ultratech Cement (1.58%), Bharat Electronics (1.57%), and Mahindra & Mahindra (1.48%).
At close, the Sensex was up 57.65 points or 0.08% at 75,996.86, and the Nifty was up 30.25 points or 0.13% at 22,959.50.
At close, Sensex was down 199 points or 0.3 per cent at 75,939, and the Nifty was down 102 points or 0.4 per cent at 22,929. About 642 shares advanced, 3,200 shares declined, and 73 shares were unchanged.
Rating agency Moody's Investors Service on Thursday once again lowered India's economic growth forecast for 2022 to 7.7 per cent.
Benchmark indices ended sharply down on Thursday in line with international peers with Sensex falling over 700 points and Nifty falling over 200 points
Indian stocks opened Thursday's session with substantial losses led by a steep decline in IT and oil and gas shares. At 10 a.m.,
Meanwhile, rupee again retreated from 80 mark against US dollar on Tuesday to trade at 79.84.
At 9.35 a.m., Sensex traded at 59,238.99 points, up 464.27 points or 0.79 per cent, whereas Nifty traded at 17,662.00 points, up 139.55 points or 0.80 per cent.
