Categories: Business

Stock market ends in red on weak global cues


stock market today

new Delhi. Today Indian stock markets have closed with a fall due to weak signals from foreign markets. On Wednesday, the Federal Reserve has estimated that recovery in the US economy will take time. Along with this, there has also been an increase in the pace of new cases of corona infection in the US. Due to these signals, the impact of pressure in foreign markets was also seen on the domestic stock market. In today's trade, the Sensex has fallen by 709 points to 33538 and the Nifty has lost 214 points to close at 9902. At the same time, all sector indices on the Nifty closed down.

The Federal Reserve has estimated that the US economy may fall by 6.5 percent in the year 2020, while the unemployment rate may reach 9.3 percent by the end of the year. The head of the Federal Reserve has said that the recovery may take a long time and that the rate has risen to near zero is expected to increase before 2022. After the Federal Reserve estimates about the economy, there has been pressure in foreign markets. The European market has seen a decline of more than 2.5 percent, whereas earlier American markets also closed with a fall. Along with this, the increase in the number of corona infections in the US has also raised the concern of investors. After the decline in new cases from 5 weeks, once again the number of new cases has seen an increasing trend. However, if the news is to be believed, then this increase in the number has been seen due to the increase in the test. At the same time, according to an estimate, by September, the death toll due to corona in the US can reach 2 lakh. This has also led to a decline in Corona Sensitive stock across the world, including Auto, Tour and Tourism, Hospitality sectors.

All the sectoral indices closed today on the NSE. The biggest decline has been seen in PSBs, with the sector index closing down 3.8 percent. The banking sector, auto sector, financial services sector, metal sector and pharma sector have all closed down over 2 per cent. At the same time, IT, power and realty sectors have fallen by more than 1 percent.

This post was published on June 11, 2020 4:17 pm

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