MARKET UPDATE:Sensex declined over 450 points to trade at 58,996 levels, while Nifty50 dropped 100 points to trade below 17,650 levels
Published On: Thursday, September 22, 2022 | By: Team KnowMyStock
Opening Bell: Indian markets opened lower today(22 September 2022) after the US Federal Reserve's 75 basis point rate hike sent global markets into a tailspin. Key indices Nifty50 dropped 100 points to trade below 17,650 levels and the S&P BSE Sensex declined over 450 points to trade at 58,996 levels.
Weakness ensued in the broader markets as well, as Nifty MidCap and SmallCap indices slipped up to 0.1 percent.
Barring Nifty FMCG and Nifty Media, which opened with marginal gains, most sectors nosedived in negative territory. Nifty IT and Nifty Bank indices declined the most - up to 1 percent.
While ITC, HUL, and Nestle India attempted to trim losses for the benchmark indices; Bajaj Finserv, Tech Mahindra, Wipro, and HDFC contributed to the sharp cuts.