Today's Stock Market Crash Updates: The Sensex is down 1,000 points, the Nifty50 is below 15,900, and HDFC Bank and Bajaj Finance are both down 2%. Rupee at all-time lows.
Sensex Today Live: Stay tuned as we bring you LIVE updates from Dalal Street throughout the day.
Inflation remains a significant drag for markets. Consumer inflation in the United States was 8.3% in April, adding to market concerns about the Fed's fast rate hikes and the potential of a US recession in 2023. FIIs are likely to continue selling until Indian valuation becomes favourable, with the dollar index at 104 and forecast to rise higher. Even if DII buying is currently outnumbering FII selling, the macro headwinds are too substantial to raise market confidence. The strength of good quality banking companies, which are still at buyable prices, reflects the market's preference for value over growth.
- Dr. V K Vijayakumar, Geojit Financial Services' Chief Investment Strategist
Today's Stock Market Crash Updates: The Sensex is down 1,000 points, the Nifty50 is below 15,900, and HDFC Bank and Bajaj Finance are both down 2%. Rupee at all-time lows
-> The BSE SMALLCAP index is down over 2%, lagging behind the benchmark Sensex.
-> The index has lost nearly 20% of its value since its high and is now in bear territory.
-> Market Updates: Nifty continues to fall, approaching 15,900.
-> The Nifty PSU Bank index is bleeding the most.
-> In the first session, all sectors were in the negative, with the PSU Bank index leading the way with a 3% fall. All other indices were trading at least 1% lower.
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