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Sensex, Nifty settle 1% low; US Fed's policy guidance weighs
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SME Times News Bureau | 27 Jan, 2022
The 30-scrip sensitive index Sensex and broader 50-scrip Nifty on
National Stock Exchange fell sharply on Thursday as the US Fed signalled
that it might tighten monetary policy in March on concerns over
inflation, analysts said.
In its meeting on Wednesday,
the Federal Open Market Committee kept its policy interest rate "near
zero" and stated its expectation that an increase in this rate would
"soon be appropriate".
Accordingly, Sensex settled at 57,276
points, down 1 per cent or 581 points from its previous close, whereas
Nifty settled at 17,110 points, down 1 per cent or 167 points from its
previous close.
"The fall in the Indian markets is in line with
the global markets. The markets were eagerly awaiting the outcome of the
US Federal Reserve meeting on monetary policy which was held on January
25-26," said Sameer Kaul, MD and CEO, TrustPlutus Wealth.
"The
combination of these measures is what has spooked the markets globally
as it would mean moving from a scenario of easy and excess liquidity to a
scenario of liquidity tightening," Kaul added.
He also suggested
investors to stick to their asset allocation and invest in high-quality
companies and also to pay close attention to valuations.
Nifty IT, pharma, realty and consumer durables slumped the most on Thursday, while PSU bank jumped sharply.
On
the stock-specific front, HCL Technologies, Tech Mahindra, Dr Reddy's,
TCS, and Wipro were the top five losers, declining 3.9 per cent, 3.6 per
cent, 3.4 per cent, 3.1 per cent and 3.1 per cent, respectively.
Axis Bank, SBI, Cipla, Maruti Suzuki, and Kotak Mahindra, on the contrary, were the top five gainers during the session.
"As
FPIs continued to book profits from Indian equities, value stocks made a
comeback with the PSU Bank Index rallying over 5 per cent in afternoon
trade on Thursday, well supported by auto stocks to stage a smart
recovery," said S. Ranganathan, Head of Research at LKP securities.
"As
IT and pharma stocks witnessed profit taking, textile stocks were
sought after in the broader market on the back of earnings," Ranganathan
added.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
₹95.3
|
₹93.6 |
UK Pound
|
₹127.7
|
₹123.7 |
Euro
|
₹110.65
|
₹106.9 |
| Japanese
Yen |
₹59.75 |
₹57.9 |
| As on 24 Jun, 2026 |
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