NIFTY-and-SENSEX

Stock Market Update: Investors Worry as Nifty and Sensex Slide Amid US Fed Concerns

 

The share market today has again experienced a significant drop, with a continued downward trend for the fourth day in a row. The main reason for this downward slope is the reaction to the global market concerns as investors are worried that the US Federal Reserve which controls the interest rates in the US will not reduce the interest rates as quickly as expected. The higher interest rate makes long-term loans and other borrowings expensive and thus can slow economic growth impacting the market worldwide including India. Both the Indian indices are going in red incurring significant losses as Sensex and Nifty 50 have both dropped to a day’s low of 79020.80 and 23,870.30 respectively.

The US Federal Reserve has cut interest rates by 0.25% only and declared that it will have very few cuts ahead in 2025, while the market had hoped for more. This disappointed the global market as they had expected more aggressive rate cuts for economic growth. For this, the US, Indian and Asian markets fell sharply. 

The US dollar has also become stronger reaching its highest in 2 years and as a result, investors sought safer assets. The foreign investors are selling the Indian stocks due to a stronger US dollar value. The FIIs have withdrawn over Rs 8000 crore recently. With the dollar getting stronger, the foreign investor's return has reduced and the imports have become costlier which can lead to higher inflation rates.

Heavyweight stocks like Bajaj Finserv, Asian Paints, JSW Steel, ICICI Bank, TCS, Tata Motors, Infosys, NTPC, Reliance, etc. have pulled the Sensex down by more than 260 points. Other stocks that have pulled down in the NIFTY 50 are Adani, Nestle, Tech Mahindra, JSW Steel, Axis Bank, Coal India, HDFC Bank, ONGC, etc. losing up to 3% of their stock value from the previous closing. Amidst the losses incurred because of national and international pressure, some of the companies have seen a surge of more than 2% in their stock price today.  Let’s check down at the share market live updates to have better clarity on stocks performing well today.

 

Dr Reddys Lab

 

Dr Reddys Laboratories Ltd. is the only stock that is leading with gains of more than 4% today from its previous day’s closing of Rs 1275.05. The stock has been trading all day and has reached the highest day value of Rs 1331.35 and is currently trading at a LTP of 1326.10. The stock has been making significant profits for the last 2 days indicating the strong performance of this company in the pharmaceutical and drugs sector.

 

Cipla Ltd

 

Cipla Ltd, the second on the list of pharmaceutical and drugs sector has also seen a surge of more than 2.40% in its stock price from the previous day’s closing of Rs 1472.05. The stock has been doing well for 2 days and went on a day high of Rs 1510.05. The LTP of the stock is 1507.55 and is expected to touch the day’s high and regain a new day's high. The ask total of the Cipla shares is 224169 compared to the bid total of 30712 indicating that the seller is willing to sell the shares as much as possible because of its significant gains this week, but this may in turn reduce the price of stock due to oversupply and reduced price to attract the buyers.

 

Sun Pharmaceutical Industries Ltd

 

Third in the list of pharmaceutical and drug sector is Sun Pharmaceutical Industries Ltd. which has seen a slight surge of more than 1.15% stock price from the previous day’s closing price of Rs 1800.30. The stock went on a day high of Rs 1829.40 per stock price and is currently trading at the LTP of Rs 1821.30. This is the 3rd company in this sector to have positive gains irrespective of the economic uncertainty.

 

BPCL

 

The Bharat Petroleum Corporation Ltd stock increased by 2.31% from the previous day’s closing price of Rs 288.40. The stock reached a day high of Rs 295.85 per share and is currently at the LTP of Rs 295.00.