look news india
Tuesday proved to be inauspicious for the stock market. Because if we talk about the condition of the stock market at 3.30 pm, at 3.30 pm the Sensex closed at 80,657.42 points with a fall of 1064 points and the Nifty closed at 24,320 points with a fall of 348 points.
market condition today
Shriram Finance, Bharti Airtel, Grasim Industries, Hero MotoCorp and JSW Steel were the top losers on Nifty in today’s trade, while Cipla was among the gainers. Apart from this, if we talk about sectoral indices, all have closed in the red, in which a decline of 1 percent has been recorded in Auto, Bank, Energy, Metal, Oil and Gas. BSE Midcap and Smallcap indices fell 0.5-0.5 per cent each. In intraday trade, BSE Sensex fell 1,136 points to an intraday low of 80,612.20, while NSE Nifty fell 50,365 points to an intraday low of 24,303.45.
Why did the market fall?
According to experts, investors decided to stay on the sidelines ahead of the monetary policy results of the US Federal Reserve. Although the Fed is expected to cut interest rates by a quarter point on Wednesday, there remains uncertainty over whether the Fed will cut interest rates in 2025.
Additionally, China plans to increase its budget deficit from 3 percent to 4 percent by 2025. This is likely to put pressure on FII inflows into India, as the market expects a boost to the stimulus package. Besides, experts also say that India’s trade deficit increasing rapidly to $37.8 billion in November will put pressure on the rupee. It will reach 85 against the dollar.