After a day of relief, Sensex and Nifty again in red mirroring weak global markets
- Benchmark indices Sensex and Nifty 50 slipped about 1% on Friday morning mirroring weak global sentiments.
- Markets around the world fell after the US Fed Chief said they would hike interest rates by 50 basis points in May to curb inflation.
- Hence FIIs continue to sell stocks from emerging markets like India and shift their investment to safe markets in the US like the debt market.
This means that the US is expected to hike interest rates more aggressively, which is why he also suggested a 50 basis points rate hike was seen on the table in May 2022.
Because of high inflation, the US central bank has been looking to stop measures for economic stimulus that began after the pandemic. One way to do it is by increasing interest rates.
The idea behind rising interest rates is that it will make borrowing costs higher, which can then slow down inflation and cool off demand.
Rise in the US interest rates does not bode well for the Indian markets, as it leads to foriegn investors pulling money out of Indian markets.
Here are the top 10 stocks that faced the brunt of huge sell-off in the market in the last 30 days.
|Companies||% return in the last 30 days|
$NIFTY50.NSE We had earlier noticed a breakout of 17500 resistance in Nifty which eventually went upto 18100.Nifty had in recent fall also broken and closed below 200 DEMA levels.The current rise is a pullback from the fall of 1300 points.Unless it closes above 17500 again, sideways to negative momentum can be expected.— (@SonaliPD) April 22, 2022
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