Tuesday saw participants become more cautious as they considered recession fears and an increase in Covid cases in China. As a result, the domestic equity benchmarks Sensex and Nifty ended the day lower, tracking global markets.
The BSE gauge Sensex started out lower and eventually fell to its lowest point of the day at 61,100. The index made a valiant comeback but fell short of entering the green zone, finishing 104 points or 0.17 percent lower at 61,702.
During the day, the NSE Nifty also experienced periods of turbulence before falling 35 points, or 0.19 percent, to 18,385.
Tata Motors, HUL, M&M, L&T, Bharti Airtel, and Maruti Suzuki were among the top losers on the Sensex chart, losing as much as 1.75 percent.
Tata Motors, HUL, M&M, L&T, Bharti Airtel, and Maruti Suzuki were among the top losers on the Sensex chart, losing as much as 1.75 percent.
TCS, Reliance, Ultratech Cement, IndusInd Bank, and Axis Bank, on the other hand, were on the winning team.
21 of the equities that make up the Sensex closed in the negative.
The probability of a US recession in 2023 is the main factor affecting the world equities markets right now. While a slowdown in the US economy is inevitable, there is disagreement over whether the US can manage a smooth landing. Economic statistics point to a weakening economy and falling inflation, suggesting that the Fed may soon decide to pause raising interest rates. If this pattern continues, the stock market could rebound.
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