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High Volatility In Indian Share Market As Sensex Recovers 400 Points In Opening Trade, Nifty Flat
Share Market Today: Sensex and Nifty both recovered from the opening losses and were trading flat on Friday. Global indices too showed muted investor sentiment.
Share Market News | New Delhi: The Indian share market on Friday saw a tough fight between bears and bulls as the benchmark indices were trading flat. Sensex today opened in the red and fell over 400 points in early trade. At 9:45 AM, however, the index had recovered to some extent and was in the red by 37 points. Nifty50 fell as low as 15,183 but was trading at 15,348, 12 points in the negative.
Global markets were showing negative sentiments. Nasdaq fell over 4 per cent or 453 points to close at 10,646.1 on Thursday. European markets too closed deep in the red. FTSE and DAX fell over 3 per cent due to rate hikes by the Bank of England. Asian markets, including India, were feeling the pressure too.
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Japan’s benchmark index, Nikkei 225, was down over 2 per cent. Korea’s KOSPI was down o.8 per cent. However, Hong Kong’s Hang Seng was one of the rare indices that were in the green. As of 9:45 AM, it was up 0.78 per cent or 163 points and was trading at 21,009.
Rate hike impact
Central banks across the globe have hiked their benchmark interest rates to control the rising inflation. The Reserve bank of India (RBI) hiked its repo rate by 50 basis points. US Fed increased the interest rate by 75 basis points, for the first time since 1994.
Bank of England too has now increased the interest rate by 25 basis points.