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Stock Market LIVE: Sensex sinks 400 pt, Nifty sub-18,100; Tata Motors, M&M shed
Stock market today: Global cues remain negative amidst crypto crisis.
Share Market LIVE Updates: Indian stock market came under pressure on Thursday amidst negative global cues. Sensex sheds 400 points and Nifty 100 points. Almost all sectoral indices are in red except Pharma with Auto and Consumer Durable shedding the most.
Worries rose about possible spillovers from the crypto industry’s latest crisis of confidence, while a batch of sour profit reports from big companies. The US will release its inflation report on Thursday which will have an effect on how much further the Fed hikes interest rate.
Rupee falls on weak Asian cues, position adjustment; U.S. data in focus
The Indian rupee declined against the U.S. currency on Thursday, after a three-day rally, in the wake of a broad fall in Asian currencies and position adjustments ahead of the U.S. inflation data.The rupee was trading at 81.5650 per U.S. dollar by 0504 GMT, compared with 81.4350 in the previous session.
Asian currencies and shares were mostly lower ahead of the data that will have a significant influence on what the U.S. Federal Reserve is likely to do at its next policy meeting in December.The Fed is widely expected to raise rates once again, but there is uncertainty on whether it will opt for a 50 or a 75 basis points rate hike. Fed fund futures are leaning to a 50 bps hike by a very small margin.
Motherson Sumi Wiring declares record date for 2:5 bonus shares
Motherson Sumi Wiring India Ltd. (MSWIL) reported that its board of directors has proposed issuing bonus equity shares in the ratio of 2:5, or issuing 2 bonus shares for every 5 shares held as of the record date, at the meeting held on September 30, 2022. The market capitalization of Motherson Sumi Wiring India Ltd. (MSWIL), a large cap firm in the consumer discretionary sector, is ₹25,579 crore.
The market capitalization of Motherson Sumi Wiring India Ltd. (MSWIL), a large cap firm in the consumer discretionary sector, is ₹25,579 crore. One of the largest producers of automobile components in the world is Motherson. Motherson Sumi Wiring India Ltd. (MSWIL) reported that its board of directors has proposed issuing bonus equity shares in the ratio of 2:5, or issuing 2 bonus shares for every 5 shares held as of the record date, at the meeting held on September 30, 2022.
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