Indian Stock Market News Today: Why Are Indices Still Declining?
- Stocks Updates
Sahil Patil- 0
- 6 minutes read
Indian Stock Market News Today: Nifty 50 and BSE Sensex India are dropping again after a choppy session on Wednesday, September 2022. The Nifty 50 index was down by 0.3% and traded at 17,664.80 (losing 53.55 points). It opened at 17,609.65 and then rebounded slightly while still staying in the ‘red’. BSE Sensex India slumped by 0.49% and traded at 59,164.35 (down by 292.43 points).
Earlier on Wednesday, the Nifty 50 closed at 17,718.35, declining by 0.55%. On the other hand, Sensex slipped by 0.44% and closed at 59,456.78. Therefore, the numbers noted today are considerably lower than even yesterday’s ‘red’ close.
Indian Stock Market News Today: Reason For Market Slump
This Indian stock market meltdown is attributed to the latest update by Russia. Investors sold off their risky and uncertain assets after Vladimir Putin ordered that a part of the Russian military assets be mobilised and also alleged the West of a “nuclear blackmail.” After the Russia-Ukraine war earlier this year, investors were already worried about their positions in stock markets around the world including India. Moreover, the latest update by Russia just made the situation worse.
Another reason for the Indian stock market news today that talks about a decline of indices is the chances of a possible Fed rate hike that would be of about 75 basis points. In addition, there are also estimations of the Fed rate hike to be about 100 basis points. This would be a massive change for the United States and obviously all nations around the world. Moreover, the fact that India is still not working on curbing its inflationary pressures is a matter of concern.
Nifty 50 Top Gainers Today
This stock market index saw 29 out of 50 stocks decline. However, the others did manage to defy the bearish trend. The top Indian stocks in the list that were in the ‘green’ during today’s ‘red’ session are:
1. Eicher Motors Limited
Eicher Motors Limited (NSE: EICHERMOT) saw its stock gain by 1.57% and trade at ₹3,740.00 (up by 57.95 points) at the time of writing in the trading session today. The total trade volume was 2,95,981, which was worth ₹11,024.23 lakhs.
2. ITC Limited
ITC Limited (NSE: ITC) saw its stock increase by 1.42% and trade at ₹345.80 (up by 4.85 points) at the time of drafting this article in the trading session today. The total trade volume was 1,22,54,753, which was worth ₹42,392.87 lakhs.
3. Hindustan Unilever Limited
Hindustan Unilever Limited (NSE: HINDUNILVR) saw its stock go up by 1.42% and trade at ₹2,660.90 (up by 37.30 points) at the time of writing in the trading session today. The total trade volume was 8,04,519, which was worth ₹21,306.48 lakhs.
4. Adani Ports And Special Economic Zone Limited
Adani Ports And Special Economic Zone Limited (NSE: ADANIPORTS) saw its stock increase by 1.02% and trade at ₹942.45 (up by 9.55 points) at press time in the trading session today. The total trade volume was 42,47,327, which was worth ₹40,103.69 lakhs.
5. Tata Consultancy Services Limited
Tata Consultancy Services Limited (NSE: TCS) saw its stock rise by 0.82% and trade at ₹3,025.85 (up by 24.65 points) at the time of reporting in the trading session today. The total trade volume was 9,70,196, which was worth ₹29,148.96 lakhs.
The latest Indian stock market news today also suggests that the bearish sessions might continue for a while with some recovering sessions. However, if such negative updates come in then it would be very difficult for the Indian stock market to be at the level it was before the recent crashes.
