Stock Market Update: The effect of the fall seen in the US stock market on the first day of Fed policy was also seen in the Indian stock market on Wednesday morning. In the beginning, both Sensex and Nifty started trading with red marks. The 30-share Sensex opened at 59,504.14 with a fall of 215.6 points on Wednesday morning. At the same time, the 50-share Nifty also saw a decline and it opened at the level of 17,766.35. Shortly after the Indian stock market opened, it appeared in recovery mode.
At around 9.30 am, the Sensex was seen trading flat at 59,721.08 points. Around the same time, Nifty is trading at the level of 17,824.95 by climbing 9 points. During this, 12 out of 30 Sensex stocks saw a fall and the remaining 18 saw an increase. Hindustan Lever saw the biggest increase of about 1.5 percent. HERO MOTOCO, HINDUSTAN LIVER, M&M, BRITANNIA and NESTLE IND were seen in the top gainers of Nifty.
The impact of the Fed policy was visible on the US market on Wednesday and pressure was seen in the US market on Tuesday. Dow Jones fell by 313 points to close at 30,706, in addition to the decline of 110 points in Nasdaq. SGX Nifty is also trading near 17750 with a break of 50 points.
However, before the Fed policy meeting on Tuesday, there was a boom in the Indian stock market.
Earlier, on Tuesday, the Indian stock market saw a rise for the second consecutive day. At the end of the trading session, the 30-share BSE Sensex ended 578.51 points higher at 59,719.74 points. At the same time, the Nifty of the National Stock Exchange closed at 17,816.25, up by 194 points.
The market remained on the edge despite concerns about aggressive rate hikes by central banks of the US and other countries to control inflation.