Share market, The lowest in 18 months, US Federal Reserve Governor Christopher Whaler said that the country’s interest rate will reach the maximum level. Contrary to expectations, the announcement that it might be delayed was the beginning of the problem.
Market experts and investors have been dreaming of a rate cut from March onwards. Chris Tober’s speech to all of them, Baredi. That is, no interest rate cut. No one expected that it could rise further.
As a result, US 10-year bond yields rose again; The dollar index also rose.
In addition, China’s GDP data caused more confusion. In 2023, China grew only 5.20 percent. There is an expectation that the growth will be affected due to the decline in the real estate sector, rising inflation and growing tensions with the US.
The third quarter results of HDFC, our country’s largest private sector bank, were not so impressive. The lack of growth in total deposits at the bank has worried traders. Its impact has also fallen on other private sector and public sector banks. They also saw a decline.
Traders were of the opinion that our shares had already risen many times their value. Looking at the third quarter results. At the end of the year, the traders have doubts whether the GDP of our country has grown sufficiently. So, most people started doing ‘profit booking’ from morning.
At the end of trading hours, excluding the IT sector, banks, autos. Metals, oil, gas and retail sectors all lost.
Our stock markets posted their biggest single-day decline in 18 months.