Stock market update: Sensex down 964 points; Nifty slips 247 points
The Sensex closed at 79,218 on Thursday (19 December) with a fall of 964 points. At the same time, Nifty also fell by 247 points, it closed at 23,951.
Bank, metal and IT stocks fell the most. Nifty Bank, Metal and IT indices were all down by more than 1%. However, pharma and healthcare indices rose by more than 1.5%.
The wealth of investors decreased by Rs 2.61 lakh crore due to selling pressure in the market. On December 19, the market cap of companies listed on BSE stood at Rs 449 lakh crore. On December 18, it was around Rs 452 lakh crore.
America’s Nasdaq fell by 3.56%
The Asian market also saw a decline today. Japan’s Nikkei closed down by 0.69%, Korea’s Kospi by 1.95% and China’s Shanghai Composite Index by 0.36%.
According to NSE data, on December 18, net sales by foreign investors (FIIs) stood at Rs 1,316.81 crore. During this period, domestic investors (DIIs) bought shares worth Rs 4,084.08 crore.
On December 18, America’s Dow Jones closed down by 2.58% at 42,326. The S&P 500 index fell by 2.95% to 5,872 and the Nasdaq closed down by 3.56% at 19,392.
America cut interest rates by 0.25%
The US Federal Reserve has cut interest rates by 25 basis points (0.25%). Now the interest rate will be between 4.25% to 4.50%. This is the third time this year that the Fed has cut interest rates. Earlier on September 18 and 8, the Fed cut interest rates by 25 (0.25%) and 50 basis points (0.50%).
The September cut was done after about 4 years. The Fed cut interest rates in September 2024 after March 2020. To control inflation, the US central bank had increased interest rates 11 times between March 2022 and July 2023.
IPOs of 5 companies opened on Thursday
Initial Public Offers i.e. IPOs of 5 companies opened for listing in the stock market. These include Transrail Lighting Limited, DAM Capital Advisors Limited, Mamta Machinery Limited, Sanathan Textiles Limited and Concord Enviro Systems Limited.
Investors will be able to bid for all five IPOs till December 23. Their shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on December 27.
