Indian Stock Markets Plunge: Investors Worry Ahead of Fed Decision

On Wednesday, December 18, early trading saw the Indian stock markets, Sensex and Nifty, drop due to investors pulling out money and waiting for an important decision from the US Federal Reserve about interest rates. The BSE Sensex, which tracks the top 30 companies, fell by 149.31 points to reach 80,535.14 points. The NSE Nifty, another main index, decreased by 62.9 points, settling at 24,273.10.

Among the big companies in the Sensex, Tata Motors, Power Grid, Larson & Toubro, Adani Ports, Maruti, and NTPC saw the biggest drops. In contrast, some companies like Reliance Industries, HCL Technologies, Tech Mahindra, Hindustan Unilever, Asian Paints, and ITC managed to gain some points.

Foreign investors sold shares worth ₹6,409.86 crore on Tuesday, as reported by Niftystat. The day before, both Sensex and Nifty fell by more than 1%, with Sensex dropping below the 81,000 points. This decline was because of a general sell-off as traders waited for the US Fed’s decision on interest rates.

The total drop was felt across all 30 major stocks in the Sensex, with Bharti Airtel, IndusInd Bank, JSW Steel, Tata Consultancy Services, and HDFC Bank being among the biggest losers. Stocks in the telecom, metals, and auto sectors took hard hits.

Globally, markets were not doing well either. Asian countries like South Korea, Japan, China, and Hong Kong all saw their markets fall. European markets were generally down, while the US markets showed mixed results.

from Business & Economy – TheLLV News – Truth, Trends & Insights https://ift.tt/UF2GcVf
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