Stock market crash: Sensex plunges over 1,600 points as US Fed keeps rates unchanged

Stock marketplace clang today: Nifty50 and BSE Sensex crashed successful opening commercialized connected Thursday aft the US Federal Reserve kept argumentation rates unchanged. While Nifty50 went beneath 23,300, BSE Sensex was down implicit 1,600 points.

At 9:16 AM, Nifty50 was trading astatine 23,277.35, down 500 points oregon 2.10%.

BSE Sensex was astatine 75,072.24, down 1,632 points oregon 2.13%.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The uncertainty surrounding the warfare has turned worse with Israel hitting the world’s largest LNG refinery successful Iran. Brent crude has changeable up to $111. This is atrocious quality for lipid and state importers similar India. If Brent remains supra $110 for an extended play of time, that volition person antagonistic implications for India’s macros.

India’s GDP maturation and firm net successful FY27, too, volition beryllium impacted.

But this script request not play retired successful the accelerated changing scenario. A prolonged warfare is nary one’s interest. Therefore, a abrupt extremity to the warfare bringing crude prices sharply down cannot beryllium ruled out. The marketplace has been exceedingly volatile successful effect to developments connected the warfare beforehand and crude prices. The past 3 days of betterment successful the marketplace is apt to beryllium wiped retired if the warfare escalation continues.”

Indian equity benchmarks ended higher connected Wednesday, extending their gains done the trading session, adjacent arsenic planetary markets signalled caution amid rising geopolitical tensions and firming lipid prices.However, Wall Street closed sharply little connected Wednesday aft the US Federal Reserve kept involvement rates unchanged and indicated conscionable 1 complaint chopped for the year, arsenic policymakers assessed risks stemming from elevated lipid prices and the ongoing US and Israeli struggle with Iran.Asian markets besides came nether unit successful aboriginal Thursday trade, tracking the anemic cues from the United States and reacting to caller attacks connected captious vigor infrastructure successful the Middle East, which pushed lipid prices higher.On the organization front, overseas portfolio investors remained nett sellers, offloading equities worthy Rs 2,714 crore connected Wednesday. In contrast, home organization investors provided enactment to the market, purchasing shares worthy Rs 3,253 crore.(Disclaimer: Recommendations and views connected the banal market, different plus classes oregon idiosyncratic concern absorption tips fixed by experts are their own. These opinions bash not correspond the views of The Times of India)