December 5, 2022

The Bombay Stock Exchange (BSE) saw a significant drop of 1250 points with the downturn in the global market, and the Nifty also fell to 17200 points.

The 30-point BSE Sensex initially opened at 57623.25, down 1,210.62 points, while the Nifty opened with a sharp decline (2.06 percent). Nifty experienced a significant drop at the same moment.

It broke the 17197 barrier and opened at 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.

The rupee, meanwhile, fell 31 paise to an all-time low of 80.15 against the US dollar in early trade on Monday, following the rise in crude oil prices and the strength of the US dollar.

The Fed Chairman’s remarks caused a significant decline in the US market, and their impacts were also seen in the domestic market.

The US market’s Dow Jones closed down more than 1000 points on the final trading day of the week, and the Nasdaq decreased by 3.94 percent. The European market also saw weakness.

In Jackson Hole, Fed Chairman Jerome Powell promised to fight against inflation with all of his strength.
In order to reduce inflation to 2%, the policy will be adjusted. The ramifications for the economy will be severe if price stability is not achieved, he continued.

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