Stock Market Update: Sensex on a decline, down 461 points, Nifty below 18300

Stock Market Update: As concerns about a potential global recession grew in response to hawkish remarks from major central banks, Indian markets sank for a second consecutive week on Friday. The Nifty 50 index and the S&P BSE Sensex experienced their largest weekly losses since September with weekly losses of 1.23% and 1.36%, respectively.

Domestic equities slipped into negative territory

Following hawkish remarks from the US Fed and weakening in international markets, domestic equities entered the negative zone. Nifty opened with a downward gap and continued to fall for a third day in a row, losing 146 points (-0.8) to close at 18269 levels. Selling pressure was also felt in the broader market, with the Nifty midcap 100 down 1.6% and the smallcap 100 down 0.6%. With PSU bank down more than 3%, all sectors posted negative final results. After reaching fresh highs, the markets appear to have stopped, as the Nifty has fallen by 3% recently.

Stock Market Update: Global markets extended their rout

The ECB and BoE followed the Fed in hiking policy rates by half a percent while keeping a hawkish stance on inflation, which caused the global markets to continue their decline. The robustness of the global economy has been questioned in light of central banks' aggressiveness in battling inflation. Lack of global support forced the indices back into negative territory despite efforts to recover losses.

PE/VC investments drop 42% to USD 4 billion

According to a study released on Friday, investments by private equity and venture capital funds fell 42% year over year to USD 4 billion in November. However, the research by industry lobby IVCA and consulting firm EY stated that investments had climbed by 18% when compared to the month before, October, and that this was the second consecutive increase in monthly investments.

Stock Market Update: Tokyo shares close lower

Friday's lower closing price for Tokyo equities followed a day of significant declines on Wall Street due to disappointing US retail sales data and concerns about a possible world recession. The broad Topix index slid 1.20 percent, or 23.69 points, to 1950.21, while the benchmark Nikkei 225 index fell 1.87 percent, or 524.58 points, to finish at 27527.12.

Also Read: Mahindra Thar owner faces a 6-month prison sentence for altering his SUV

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER