Finance
Today’s Stock Market News | Sensex, Nifty, and Share Prices Highlights: On Friday, Indian benchmark indices finished lower. The BSE Sensex fell 316.94 points to 61,002.5, while the Nifty fell 0.5% to 17,944, closing below the 18,000 level. The broader markets finished mostly in the red, with Nifty Oil & Gas being the only sectoral gainer.
The banking stocks index fell 1.6% in trade on Friday. Bandhan Bank, IndusInd Bank, Bank of Baroda, AU Small Finance Bank dropped the most, with Bandhan Bank down 3.06%.
The price of the yellow metal has hit a 1-month low of $1835. The immediate fall in the price of gold is the result of the economic data in the US. The PPI data – a key inflation metric rose in January (MoM). This has led to concerns about Fed introducing more extensive rate hikes to control inflation. The data also pushed the Dollar index towards the 104 level, a higher dollar makes gold buying more expensive.
US Markets
Wall Street fell by the most in four weeks on Thursday as further data proved that inflation is stickier than expected.The S&P 500 dropped 1.4% after a report said inflation at the wholesale level slowed by less last month than previously forecasted. The Dow Jones Industrial Average lost 431 points, or 1.3%, while the Nasdaq composite dropped 1.8%.
Asian Markets
Asian markets closed mostly in red on Friday. China’s Shanghai Composite Index fell 0.77%, Japan’s Nikkei 225 declined 0.66%, South Korea’s KOSPI tumbled almost 1% while Hong Kong’s Hang Seng fell 1.28%.
Source:FE
