There was a commotion as soon as the stock market opened. The first day of the week, Monday sees a significant decline in the Indian stock market. Everywhere there is a sell-off. The Sensex’s 30 stocks are all seeing significant price declines. The news that US Federal Reserve Chief Jerome Powell would maintain a tighter monetary policy than anticipated in order to rein in the inflationary trend caused the market to plummet.
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Following Jerome Powell’s remarks on Friday, the Dow Jones dropped 10008.38 points (3.03%). The Nasdaq dropped 5.12 points (2.74%) to 182.07 USD. The US market is still seeing a significant decrease. The Asian market has also experienced a large decline. The Indian market is now under pressure to sell.
Auto, banking, and IT stocks beating
Stocks in the banking, IT, and automotive industries have significantly hit today’s market. All of the shares, including those of Maruti, Mahindra, SBI, ICICI, Reliance, Wipro, and Infosys, are currently trading down as much as 2%. India Vicks has increased by nearly 8% at the same time. These are signs of increased market volatility. The Nifty index counters are currently trading in a decline. For now, small investors shouldn’t enter the market in this situation, experts say.