Stock Market Today: The Nifty and Sensex are set to open in the red on Thursday, following negative global cues from the Fed’s widely anticipated 25-basis-point rate hike and commitment to continue fighting red-hot inflation amid banking crisis.
Aisan Market
Stocks in other areas of Asia fell, tracking the Dow Jones’ overnight losses of 1.6%, after Fed Chair Jerome Powell hinted at possible more tightening and that the US central bank was on the edge of suspending rates due to recent financial sector volatility.
Stock Market Today: Financial sectors
Banking stocks around the world have regained just a portion of their losses after suffering substantial losses in recent weeks due to fears of contagion following the surprise collapse of Silicon Valley Bank (SVB), but a last-minute bailout of the ailing Credit Suisse has provided some relief.
Stocks under F&O ban on NSE
The National Stock Exchange has kept Biocon and Indiabulls Home Finance on its March 23 F&O ban list. Stocks prohibited under the F&O section include corporations whose derivative contracts have exceeded the market-wide position limit by 95 percent.
Stock Market Today: FII and DII data
Foreign institutional investors (FII) became net buyers for the first time in ten consecutive sessions on March 22, purchasing shares worth Rs 61.72 crore, while domestic institutional investors (DII) purchased shares worth Rs 383.51 crore, according to provisional data from the National Stock Exchange.
Oil prices fall as investors weigh Fed chair comments, rate hike
After three sessions of gains, oil prices dipped on Thursday after US Federal Reserve Chair Jerome Powell reaffirmed his commitment to containing inflation, including the likelihood of further interest rate increases.
Brent crude futures slid 80 cents, or 1%, to $75.89 a barrel by 00:09 GMT, while WTI crude in the United States fell 84 cents, or 1.2%, to $70.06. Both crude benchmarks closed at their highest levels since March 14 on Wednesday.
Disclaimer: (This piece of information is purely informational. It is important to note that offers, discounts, and/ or any other scheme/ information/ statistics must be personally verified by the readers from the respective sources. Readers are advised to invest or purchase solely at their own risk. DNP News Network Private Limited, website or the writer doesn’t validate the offers in any context. We will not be liable for any financial or other losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.
