Sensex Today

Sensex Today: Market Highlights and Expert Insights

Market Overview

Sensex, the benchmark index of the Bombay Stock Exchange (BSE), witnessed a significant decline today, closing at 59,621.15, down 1.24% or 740.26 points from the previous close.

The Nifty 50 index also saw a decrease, falling by 1.21% or 227.05 points to close at 18,419.65.

The decline in the market was broad-based, with most sectors closing in the red.

Top Gainers and Losers

Among the top gainers today were:

• Power Grid Corporation of India (5.24%)
• NTPC (3.87%)
• Hindustan Unilever (2.86%)

The top losers included:

• HDFC Bank (-4.96%)
• Reliance Industries (-3.25%)
• Infosys (-2.92%)

Factors Influencing the Market

Several factors contributed to the market's decline:

• Investors' cautiousness ahead of the release of the U.S. Federal Reserve's interest rate decision on Wednesday.
• Selling pressure in banking and IT stocks.
• Concerns over rising inflation and slowing economic growth.

Expert Insights

"The market is reacting negatively to the Fed's hawkish stance and the possibility of aggressive interest rate hikes," said Mr. Avinash Gorakshakar, Head of Research at Profitmart Securities.

"Investors are also concerned about the impact of rising interest rates on corporate earnings and economic growth," added Mr. Ajit Mishra, Vice President of Research at Religare Broking.

Conclusion

With the Fed's monetary policy decision looming, market volatility is expected to continue in the short term. Experts advise investors to stay cautious and make informed decisions based on a thorough understanding of market fundamentals.