Stock Market Updates: Sensex slips 400 points in the open, Nifty 50 below 17,800; key points

Sensex today: Domestic stock markets opened with a fall on Friday amid weak global cues. Frontline index Nifty 50 opened below the level of 17,800 with a fall of 100 points and the S&P BSE Sensex was trading at 59,533 level, down over 400 points.

VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said: “The market has started showing some signs of fatigue. Globally, the major concern now is that the Fed could overstretch the economy and raise rates too quickly, pushing the US economy into a sharp recession. There is talk of increasing the terminal Fed rate to 4.25 percent. Rapidly rising rates, rising bond yields and a rising dollar are negatives for equities.

“In this challenging environment, it will be difficult” India To maintain disconnection from the global trend which has been a recent pattern in India. Also, FIIs have stopped their continued buying and become sellers, although this is not yet a trend. Investors can adopt a wait-and-watch approach until the Fed’s meeting ends on September 21. Bank nifty continues to be strong,” he said.

global signal

Asian markets were weak on Friday as investors warned of a hike in US rates next week amid rising concerns of a global slowdown. World Bank and International Monetary Fund.

Tokyo shares opened lower on Friday after a fall in Wall Street shares, again battered by worries about economic data and the impact of further aggressive action by the Federal Reserve next week.

New US retail sales data gave a mixed view of how consumers are coping with inflation over four decades. The government report showed that there was an unexpected increase of 0.3 percent in retail sales. Higher prices and aggressive plans by central banks to raise interest rates as a solution remain the main focus of the market.

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