Finance
Stock Market Highlights: The benchmark equity indices, the BSE Sensex and NSE Nifty, fell more than 1% from yesterday’s close, ahead of the US Federal Reserve’s monetary policy rate decision later today. Notably, this will be Fed Chair Jerome Powell’s first address after media reports indicated that former President Donald Trump won the 47th presidential election.
At the closing, the BSE Sensex was down 836.34 points, or 1.04 percent, at 79,541.79, while the Nifty 50 ended at 24,199.35, down 284.67 points, or 1.16 percent.
Bears grabbed control of D-Street, with 46 of the NSE Nifty50’s 50 member companies closing in the red, led by Hindalco, Trent, Grasim, Shriram Finance, and Adani Enterprises, which lost up to 8.42 percent. Apollo Hospitals, HDFC Life, State Bank of India, and Tata Consultancy Services (TCS) were the only four Nifty50 component companies to close higher on Thursday.
The broader markets closed in the red, with the Nifty Midcap100 and Nifty Smallcap100 down 0.43 and 0.75 percent, respectively.
The Nifty Metal index was the worst-performing sectoral market, falling 2.73 percent. In addition, the auto, pharmaceutical, real estate, and certain healthcare indexes all fell by more than one percent. Meanwhile, the Nifty PSU Bank Index ended flat on Thursday.
Source: BS
