City
Epaper

Equity benchmarks close week in red on weak global cues

By IANS | Updated: May 6, 2022 17:10 IST

New Delhi, May 6 Continuing with the opening session losses, Indian equity benchmarks settled sharply lower on Friday, ...

Open in App

New Delhi, May 6 Continuing with the opening session losses, Indian equity benchmarks settled sharply lower on Friday, in line with the weakness in global markets.

Asian stocks fell over concerns that the US central bank and some other major central banks will have to raise interest rates even more aggressively to check inflation.

In India, the benchmark Sensex fell 866 points, or 1.6 per cent, to close the day at 54,836, and Nifty declined 271 points, or 1.6 per cent, to 16,411 points.

Among sectors, IT, metal, and realty indices fell 2-3 per cent.

"Markets managed to rebound amid the weak global setup which shows that bulls are not in the mood to surrender easily," said Ajit Mishra, VP, Research, Religare Broking.

However, the real test would be to handle the volatility post the US Fed meeting, he said.

Meanwhile, the domestic factors like earnings and macroeconomic data would further add to the choppiness and it's prudent to limit positions and continue with stock-specific trading approach.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Ajit mishrausniftyNew DelhiThe new delhi municipal councilDelhi south-westAnd researchNew-delhi
Open in App

Related Stories

InternationalEarthquake in Russia: Quake of Magnitude 8.0 Strikes Kamchatka Peninsula; Tsunami Warning Issued

InternationalNASA Layoffs: 20% or 3,870 Employees to Exit US Space Agency

InternationalMichigan Plane Crash: 2 Killed After Small Aircraft Crashes Into Storage Facility Near Lowell City Airport in US

International'System-Wide Ground Stop': Alaska Airlines Grounded Over 200 Planes Due to IT Outage

International‘This Might Hit You Hard’: NATO Chief Mark Rutte's Warning to India, China, and Brazil Over Russia Ties Amid Ukraine War

International Realted Stories

InternationalTaiwan's MND plans mass production of Tien Kung IV missiles, new armoured vehicles

InternationalSouth Korean President Lee calls for measures to curb fake news on YouTube

InternationalIndian envoy Kwatra meets US Intelligence Chief Gabbard; discusses matters of mutual interest

InternationalSmuggler detained, illegal drug discovered in Northern Afghanistan

InternationalBangladesh: Dark side of the new political order, meteoric rise of fascist forces (IANS Analysis)