Share Market Today, 29 Aug 2022: Tsunami in stock market, Sensex falls by 1200 points
Share Market News Today (Today’s stock market), 29 August 2022: During the pre-open at 9:02 am, the Sensex was down 2,906.65 points at 55927.22. During the year, Nifty was down 332.10 points at 17226.80.
Share Market News Today, 29 Aug 2022: Due to the huge fall in the global market, there has been a furore in the domestic stock market. On Monday, the Sensex and Nifty opened with a heavy fall. Initially, the 30-point BSE Sensex opened at 57623.25, down 1,210.62 points (2.06 per cent). At the same time, Nifty also saw a huge fall. It broke 361.50 points (2.06 percent) and opened at the level of 17197.40. 433 shares rose in early trade, 1965 shares declined and 135 shares opened flat.
Why did Sensex-Nifty fall?
Fed Chairman Jerome Powell’s statement saw a huge drop in the US market. Its effect was seen in the domestic market. The global market had an impact on the domestic market. On the last trading day of the week, the US market Dow Jones closed more than 1000 points and Nasdaq fell 3.94 per cent. There was weakness in the European market as well.
Fed Chairman Jerome Powell said in Jackson Hole that he would strike with all his might to bring inflation under control. The policy will be changed to bring the inflation rate down to 2 percent. If price stability is not brought, the consequences for the economy will be dire. The S&P 500 lost 3.37 per cent in the previous trading session, the FTSE 100 was down 0.70 per cent, the DAX fell 1.88 per cent and the CAC 1.68 per cent.
