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Sensex and Nifty Pause Amidst Global Economic Factors

18 Sep 2023 , 01:30 PM

Sensex and Nifty take a pause from their record run on Monday, reacting to economic developments in China and anticipating policy decisions from major central banks, notably the U.S. Federal Reserve. Mid-cap companies experience a slight dip of approximately 0.17%, while small-cap stocks see a 0.2% rise. At the time of writing Sensex was trading at Rs 67731 (0.16%), and Nifty is trading at Rs 20174 (-0.09%)

Globally, the market focus is on the U.S. Federal Reserve’s expected decision to maintain rates and insights into future rate directions. Rising prices contribute to Asian market nervousness, prompting careful observation of the Federal Reserve and Bank of Japan meetings for guidance.

China’s economic sentiment suffers due to ongoing stress in its crucial property sector, despite positive economic indicators hinting at economic stabilization. The technology index leads losses for the day, declining by 0.5%, primarily driven by decreases in HCL Tech and Infosys Ltd by approximately 0.4% and 0.9%, respectively.

The public sector bank index sees a 2.9% increase, while the broader banking sector faces a 0.3% dip. Dhanlaxmi Bank witnesses a 5% decline following the resignation of an independent director, citing disagreements with the board on various matters, including a rights issue and the bank’s capital position.

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Related Tags

  • business
  • market
  • news
  • nifty
  • sensex
  • Share Market
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