Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ Markets / Live Blog/  Sensex ends volatile day 340 pts lower, Nifty 90 pts down; FMCG up; Bank drags

Sensex ends volatile day 340 pts lower, Nifty 90 pts down; FMCG up; Bank drags

Share Market Close: Indices witnessed a volatile day as Sensex and Nifty ended 337 and 88 points lower, respectively. Bank dragged, while FMCG and Media remained stable. Powergrid and Axis Bank tumbled while HUL and Titan gained. Rupee lost 51 paise against the dollar to reach an all-time low.

Stock Market Today: Fed hints at more tightening in the future (Photo: Mint)Premium
Stock Market Today: Fed hints at more tightening in the future (Photo: Mint)

Indices across the globe shed on Thursday as Fed hinted at an aggressive stance against inflation in the future. Asian stocks lost ground with Nikkei and Hang Seng losing substantial ground. Europe was also trading in red in the morning session.

22 Sep 2022, 08:05:14 AM IST

INDIA BONDS-Bond yields seen higher tracking U.S. peers, hawkish Fed to hurt

Indian government bond yields are expected to rise in early trading on Thursday, tracking a spike in U.S. yields, after the Federal Reserve hike interest rate by 75 basis points and signalled more increases to battle elevated inflation.

The benchmark Indian 10-year government bond yield is seen in a 7.25%-7.30% band, a trader with a private bank said. The yield ended at 7.2326% on Wednesday.

"There should be a gap up opening in terms of yields today but, after the initial selloff, we may see yields stabilising, as the outcome was not completely out of the box," the trader said.

"It is also possible that after the initial few minutes, yields may stabilise and some buying may emerge." (Reuters)

22 Sep 2022, 07:52:16 AM IST

After crude, Centre now expedites plan to set up strategic gas reserve

India is expediting a plan to set up a strategic gas reserve on the lines of its strategic petroleum reserve (SPR), amid a global energy crisis triggered by the Russia-Ukraine conflict that has sent fuel prices soaring. Existing LNG tunnels and exhausted oil wells are likely to be utilized for the gas reserve, along with the construction of new underground infrastructure such as large salt caverns. (Full Story)

22 Sep 2022, 07:41:20 AM IST

Wipro sacked 300 employees after discovering they were working concurrently for rival technology services companies

Wipro Ltd sacked 300 employees after discovering they were working concurrently for rival technology services companies, including Infosys Ltd and Tech Mahindra Ltd, toughening its stance against moonlighting and reaffirming that the company will not tolerate dual employment.

All sacked employees had fewer than three years’ work experience.

Infosys warned its employees in an email earlier this month against the practice, TCS called it an ethical issue. (Full Report)

22 Sep 2022, 07:34:21 AM IST

Gold gains ₹152; silver jumps ₹333

Gold prices in the national capital rose by 152 to 49,871 per 10 grams on Wednesday, amid a rise in international precious metal prices along with rupee depreciation, according to HDFC Securities.

In the previous trade, the yellow metal had closed at 49,719 per 10 grams.

Silver also jumped by 333 to 57,406 per kilogram from 57,073 per kg in the previous trade. (PTI)

22 Sep 2022, 07:31:12 AM IST

Rupee falls 22 paise to close at 79.96 against dollar on forex outflows

The rupee declined by 22 paise to close at 79.96 against the US dollar on Wednesday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities.

Forex traders said investors are awaiting the US Fed's policy decision on interest rates for further cues. Moreover, risk-off mood and firm crude oil prices weighed on the local unit.

At the interbank foreign exchange market, the domestic currency opened at 79.81 per dollar. It hovered in a range of 79.79 to 80.01 during the session.

The rupee finally settled at 79.96, down 22 paise over its previous close. On Tuesday, the rupee had closed 7 paise higher at 79.74. (PTI)

22 Sep 2022, 07:30:48 AM IST

The Fed's 75-bps rate hike: Powell says 'strongly resolved' to bring inflation down

The Federal Reserve on Wednesday raised the key US interest rate again and signalled more hikes are coming as it battles soaring prices – an aggressive stance that has raised fears of an eventual recession. 

It was the third consecutive increase of 0.75 percentage point by the Fed's policy-setting Federal Open Market Committee (FOMC), continuing the forceful action to quell inflation that has surged to the highest in 40 years.

Speaking at a news conference after the Federal Reserve raised its key interest rate, Fed Chair Jerome Powell said officials were ‘strongly committed’ to curbing inflation. (Full Story)

22 Sep 2022, 07:29:01 AM IST

US stocks fall, dollar gains as Fed unveils latest big rate hike

Wall Street stocks tumbled and the dollar rallied Wednesday after the Federal Reserve announced another large interest rate increase and signalled it expects more monetary tightening ahead to fight inflation.

The US central bank announced its third consecutive interest rate increase of 0.75 percentage point, continuing the forceful action to tamp down inflation that has surged to the highest in 40 years.

US stocks had climbed ahead of the announcement, following positive sessions on leading European bourses and declines in Asia.

Equities gyrated after the Fed press release before taking a final decisive push lower during Fed Chair Jerome Powell's news conference. The S&P 500 ended down 1.7%.

"The higher-for-longer narrative kicked in," Art Hogan, analyst of B. Riley Wealth Management, said of the market's reaction to an announcement that was more "hawkish" than expected. (AFP)

Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started