The magic of America’s newly elected President Donald Trump’s spectacular victory on the domestic stock market seemed to be ending the very next day. There was all-round weakness in the market. Everyone’s eyes are now on the decision of the Federal Reserve. For this reason investors have exercised caution today. Bombay Stock Exchange’s benchmark Sensex closed at 79,541.79 with a sharp fall of 836.34 points. Similarly, Nifty of National Stock Exchange also fell by 284.7 points and closed at the level of 24,199.35. During today’s trading, Hindalco Industries, Trent, Shriram Finance, Tech Mahindra and Grasim Industries were among the biggest fallers on Nifty, while Apollo Hospitals, HDFC Life, SBI, TCS and L&T were among the top gainers. are.
Expected cut of 25 basis points
The Fed is expected to cut interest rates again on Thursday, this time by 25 basis points, as inflation eases and the labor market softens. But experts also say that after Donald Trump’s return to the White House, the main focus is on the fact that he can try to exert significant influence on the policy decisions of central banks.
All sectoral indices closed in the red.
According to the news, all sectoral indices closed in the red with Auto, Metal, Power, Telecom, Pharma, Realty falling by 1-2 percent. BSE Midcap and Smallcap indices fell by 0.5-0.5 per cent.
update in progress….
