4 hrs ago
Market Ends Two-Day Rally as Nifty Falls Below 22,700
The market had risen for two days, but then it fell.
The Nifty index dropped below 22,700.
A Reserve Bank of India rate hike weighed on stocks that are sensitive to interest rates.
This included finance, property and car companies.
Metal stocks were weak as the dollar index rose.
Higher crude prices also pressured paint and airline companies.
The market ended its two-day gaining streak, with the Nifty falling below 22,700.
Rate-sensitive stocks came under pressure following the Reserve Bank of India's rate hike.
NBFCs, small finance banks, realty and auto stocks were among the decliners.
Metal stocks remained weak as the dollar index rose.
Higher crude prices kept paint and airline stocks under pressure.
- Who
- Indian market investors and companies in rate-sensitive sectors.
- What
- The market ended its two-day gaining streak, and the Nifty fell below 22,700.
- Where
- India.
- When
- Not specified in the article.
- Why
- The article cites an RBI rate hike, a rising dollar index and higher crude prices as factors weighing on stocks.
Key facts
- Nifty level
- Below 22,700
- Market trend
- Two-day gaining streak ended
- Rate-sensitive sectors under pressure
- NBFCs, small finance banks, realty and auto
- Metal stocks
- Remained weak as the dollar index rose
- Paint and airline stocks
- Under pressure amid higher crude prices
- Interest-rate development
- The RBI raised rates
Sources
Related news
RBI Rate Hike Sends Sensex Down 429 Points
RBI Rate Hike Lifts Banks as Indian Markets Trim Losses
RBI Rate Hike Sends Indian Markets Lower
Why Indian Stocks Fell 1,800 Points in Two Sessions
Sensex Surges 685 Points as Nifty Reclaims 22,750 Ahead of RBI Policy
Indian Markets Slide as US Yields, Oil and Rupee Weaken
HD Fire Protect Sets ₹258-271 IPO Price Band for ₹712 Crore Offer
Recent Indian IPOs Rally as Broader Market Slumps
SEBI Shares Trade Logs as Jane Street Challenges Allegations
HDFC Mutual Fund Opens Hybrid Index Fund Offer
