{"id":182,"date":"2023-01-27T22:20:35","date_gmt":"2023-01-28T03:20:35","guid":{"rendered":"https:\/\/embarrdowns.com\/?p=182"},"modified":"2023-01-27T22:20:36","modified_gmt":"2023-01-28T03:20:36","slug":"indian-stock-markets-witness-sell-off-un-cuts-gdp-growth-forecast-us-economy-expands","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/indian-stock-markets-witness-sell-off-un-cuts-gdp-growth-forecast-us-economy-expands\/","title":{"rendered":"Indian Stock Markets Witness Sell-Off; UN Cuts GDP Growth Forecast; US Economy Expands"},"content":{"rendered":"

On Friday, the Indian stock markets witnessed a massive sell-off, with the BSE Sensex tanking 874.16 points or 1.45 per cent, its biggest single day slide in more than a month, to settle at 59,330.90. The broader NSE Nifty fell 287.60 points or 1.61 percent to close at 17,604.35.[0]<\/a><\/sup><\/p>\n

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday, offloading shares worth Rs 760.51 crore, according to exchange data.[1]<\/a><\/sup> FIIs have been on a selling spree this month, taking the total outflow in equities to Rs 16,766 crore so far in January, as per NSDL data.[2]<\/a><\/sup><\/p>\n

Due to the influence of restrictive monetary policy and lack of international demand, the United Nations has decreased its outlook for India’s GDP growth in 2023 to 5.8%.[2]<\/a><\/sup><\/p>\n

In the fourth quarter of 2018, the US economy grew at an annual rate of 2.9 percent, surpassing expectations.[2]<\/a><\/sup> It appears that the United States Federal Reserve might maintain its hawkish attitude for an extended length of time.[2]<\/a><\/sup><\/p>\n

At the start of trading, the 30-share BSE index plummeted 578.19 points to 59,626.87.[3]<\/a><\/sup> For the third day in a row, stocks of banks have gone down.[4]<\/a><\/sup> Both Bank of Baroda and State Bank of India experienced major falls, with losses of at least 5% each.[5]<\/a><\/sup> Meanwhile, the Rupee closed at 81.72 versus the US dollar.[6]<\/a><\/sup><\/p>\n

Among the major laggards in the Sensex pack were ICICI Bank, HDFC, Axis Bank, State Bank of India, Reliance Industries, Kotak Mahindra Bank and HDFC Bank.[3]<\/a><\/sup> Tata Motors, which returned to profitability in the third quarter of FY23, rose the most by 6.34 per cent.[7]<\/a><\/sup><\/p>\n

The Adani group’s stocks dropped drastically, reaching a low of 20 percent, after Hindenburg Research, an American investment research organization, made damning claims.[3]<\/a><\/sup><\/p>\n

In other parts of Asia, stock markets in Seoul, Tokyo, and Shanghai were performing positively, whereas Hong Kong was slightly lower.[3]<\/a><\/sup><\/p>\n

If Street forecasts are not fulfilled, the market may experience a decline.[2]<\/a><\/sup> Attention will be paid to the fiscal deficit figure for FY24.[2]<\/a><\/sup> Morgan Stanley, an international brokerage firm, anticipates that the fiscal deficit in FY24 will amount to 5.9% of GDP, compared to 6.4% in FY23.[2]<\/a><\/sup><\/p>\n

0. <\/span>“Opening Bell: Indices open lower; Sensex falls 237 points, Nifty around 17800” Free Press Journal, 27 Jan. 2023, https:\/\/www.freepressjournal.in\/business\/opening-bell-indices-open-lower-sensex-falls-237-points-nifty-around-17800<\/a><\/a><\/p>\n

1. <\/span>“Sensex, Nifty tank 1% on selling in financial, oil, IT shares” BusinessLine, 25 Jan. 2023, https:\/\/www.thehindubusinessline.com\/markets\/sensex-nifty-tank-1-on-selling-in-financial-oil-it-shares\/article66432061.ece<\/a><\/a><\/p>\n

2. <\/span>“Sensex Crashes Over 1,000pts, Rs 8.1L cr Investor Wealth Lost; Why is Market Falling Today?” News18, 27 Jan. 2023, https:\/\/www.news18.com\/business\/markets\/sensex-crashes-over-1000pts-rs-8-1l-cr-investor-wealth-lost-why-is-market-falling-today-6928819.html<\/a><\/a><\/p>\n

3. <\/span>“Bloodbath on D-Street; Hindenburg report on Adani sinks markets” Rediff.com, 27 Jan. 2023, https:\/\/www.rediff.com\/business\/report\/bloodbath-on-d-street-hindenburg-report-sinks-markets\/20230127.htm<\/a><\/a><\/p>\n

4. <\/span>“Markets extend losses, Sensex falls below 59,800 in morning trade” Rising Kashmir, 27 Jan. 2023, http:\/\/risingkashmir.com\/markets-extend-losses-sensex-falls-below-59800-in-morning-trade<\/a><\/a><\/p>\n

5. <\/span>“Adani Contagion Fear Hits India Bank Stocks, Major Life Insurer” Bloomberg, 27 Jan. 2023, https:\/\/www.bloomberg.com\/news\/articles\/2023-01-27\/adani-contagion-fear-hits-india-bank-stocks-major-life-insurer<\/a><\/a><\/p>\n

6. <\/span>“Business News | Erasing Early Gains, Indian Stocks Close Largely Steady” LatestLY, 24 Jan. 2023, https:\/\/www.latestly.com\/agency-news\/business-news-erasing-early-gains-indian-stocks-close-largely-steady-4752427.html<\/a><\/a><\/p>\n

7. <\/span>“Nifty slips below 18050, Sensex sheds 200 pts in early trade on Wednesday Jan 25; Tata Motors, Maruti shares rise” The Financial Express, 25 Jan. 2023, https:\/\/www.financialexpress.com\/market\/nifty-slips-below-18050-sensex-sheds-200-pts-in-early-trade-on-wednesday-jan-25-tata-motors-maruti-shares-rise\/2959508<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

On Friday, the Indian stock markets witnessed a massive sell-off, with the BSE Sensex tanking 874.16 points or 1.45 per cent, its biggest single day slide in more than a month, to settle at 59,330.90. The broader NSE Nifty fell 287.60 points or 1.61 percent to close at 17,604.35.[0]<\/a><\/sup><\/p>\n

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday, offloading shares worth Rs 760.51 crore, according to exchange data.[1]<\/a><\/sup> FIIs have been on a selling spree this month, taking the total outflow in equities to Rs 16,766 crore so far in January, as per NSDL data.[2]<\/a><\/sup><\/p>\n

Due to the influence of restrictive monetary policy and lack of international demand, the United Nations has decreased its outlook for India’s GDP growth in 2023 to 5.8%.[2]<\/a><\/sup><\/p>\n

In the fourth quarter of 2018, the US economy grew at an annual rate of 2.9 percent, surpassing expectations.[2]<\/a><\/sup> It appears that the United States Federal Reserve might maintain its hawkish attitude for an extended length of time.[2]<\/a><\/sup><\/p>\n

At the start of trading, the 30-share BSE index plummeted 578.19 points to 59,626.87.[3]<\/a><\/sup> For the third day in a row, stocks of banks have gone down.[4]<\/a><\/sup> Both Bank of Baroda and State Bank of India experienced major falls, with losses of at least 5% each.[5]<\/a><\/sup> Meanwhile, the Rupee closed at 81.72 versus the US dollar.[6]<\/a><\/sup><\/p>\n

Among the major laggards in the Sensex pack were ICICI Bank, HDFC, Axis Bank, State Bank of India, Reliance Industries, Kotak Mahindra Bank and HDFC Bank.[3]<\/a><\/sup> Tata Motors, which returned to profitability in the third quarter of FY23, rose the most by 6.34 per cent.[7]<\/a><\/sup><\/p>\n

The Adani group’s stocks dropped drastically, reaching a low of 20 percent, after Hindenburg Research, an American investment research organization, made damning claims.[3]<\/a><\/sup><\/p>\n

In other parts of Asia, stock markets in Seoul, Tokyo, and Shanghai were performing positively, whereas Hong Kong was slightly lower.[3]<\/a><\/sup><\/p>\n

If Street forecasts are not fulfilled, the market may experience a decline.[2]<\/a><\/sup> Attention will be paid to the fiscal deficit figure for FY24.[2]<\/a><\/sup> Morgan Stanley, an international brokerage firm, anticipates that the fiscal deficit in FY24 will amount to 5.9% of GDP, compared to 6.4% in FY23.[2]<\/a><\/sup><\/p>\n

0. <\/span>“Opening Bell: Indices open lower; Sensex falls 237 points, Nifty around 17800” Free Press Journal, 27 Jan. 2023, https:\/\/www.freepressjournal.in\/business\/opening-bell-indices-open-lower-sensex-falls-237-points-nifty-around-17800<\/a><\/a><\/p>\n

1. <\/span>“Sensex, Nifty tank 1% on selling in financial, oil, IT shares” BusinessLine, 25 Jan. 2023, https:\/\/www.thehindubusinessline.com\/markets\/sensex-nifty-tank-1-on-selling-in-financial-oil-it-shares\/article66432061.ece<\/a><\/a><\/p>\n

2. <\/span>“Sensex Crashes Over 1,000pts, Rs 8.1L cr Investor Wealth Lost; Why is Market Falling Today?” News18, 27 Jan. 2023, https:\/\/www.news18.com\/business\/markets\/sensex-crashes-over-1000pts-rs-8-1l-cr-investor-wealth-lost-why-is-market-falling-today-6928819.html<\/a><\/a><\/p>\n

3. <\/span>“Bloodbath on D-Street; Hindenburg report on Adani sinks markets” Rediff.com, 27 Jan. 2023, https:\/\/www.rediff.com\/business\/report\/bloodbath-on-d-street-hindenburg-report-sinks-markets\/20230127.htm<\/a><\/a><\/p>\n

4. <\/span>“Markets extend losses, Sensex falls below 59,800 in morning trade” Rising Kashmir, 27 Jan. 2023, http:\/\/risingkashmir.com\/markets-extend-losses-sensex-falls-below-59800-in-morning-trade<\/a><\/a><\/p>\n

5. <\/span>“Adani Contagion Fear Hits India Bank Stocks, Major Life Insurer” Bloomberg, 27 Jan. 2023, https:\/\/www.bloomberg.com\/news\/articles\/2023-01-27\/adani-contagion-fear-hits-india-bank-stocks-major-life-insurer<\/a><\/a><\/p>\n

6. <\/span>“Business News | Erasing Early Gains, Indian Stocks Close Largely Steady” LatestLY, 24 Jan. 2023, https:\/\/www.latestly.com\/agency-news\/business-news-erasing-early-gains-indian-stocks-close-largely-steady-4752427.html<\/a><\/a><\/p>\n

7. <\/span>“Nifty slips below 18050, Sensex sheds 200 pts in early trade on Wednesday Jan 25; Tata Motors, Maruti shares rise” The Financial Express, 25 Jan. 2023, https:\/\/www.financialexpress.com\/market\/nifty-slips-below-18050-sensex-sheds-200-pts-in-early-trade-on-wednesday-jan-25-tata-motors-maruti-shares-rise\/2959508<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/182"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=182"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/182\/revisions"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}