Stock Market Update: In contrast to expectations that strict pandemic restrictions would be loosened, Indian shares began down on Tuesday due to concerns over a possible U.S. recession and a rise in COVID-19 infections in China.
Nifty 50 and all major sectoral indices
All 48 of the other Nifty 50 members had losses, with the exception of Adani Enterprises and State Bank of India.
All of the main sectors indices decreased, with losses in metal, FMCG, information technology, and auto stocks above 0.5%.
On news that its proprietors intended to sell shares for 8 billion rupees ($96.71 million), Dabur India slid more than 2.5% among individual stocks.
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Wall Street equities extended losses
Wall Street stocks continued to decline for a fourth day in a row as risk aversion predominated throughout the week leading up to Thanksgiving. Investors are looking for hints as to the extent of the impact of Fed policy in the key macroeconomic data anticipated later this week, including housing starts, existing home sales, consumer expenditure, and inflation.
Stock Market Update: Asian markets declined
Asian markets fell, with MSCI Asia ex Japan losing 0.54%, on negative indications such a spike in new COVID-19 infections in China and weak macroeconomic indicators. The level of business confidence in China hit its lowest point in almost a decade.
Gold gains Rs 38; silver declines Rs 328
According to HDFC Securities, the price of gold increased by Rs 38 to Rs 54740 per 10 kilos in the capital on Tuesday. The price of the precious metal for 10 grammes had previously settled at Rs 54702.
However, the price of silver fell by Rs 328 to Rs 67984 per kilogramme.
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