The markets reversed, all gains it had got on Wednesday which is falling since 1st of February.The BSE sensex was down by 407.40 points at 34005.76 and the Nifty fell by 121.90 points at 10455. The broader markets , outperformed the frontline stocks. The Nifty midcap ended with 0.2% gains. In BSE 1400 shared advanced against 1358 declines.
The reason for the markets to fall is the US Federal Reserve interest rate hikes.The Nifty midcap ended with a 0.2% gains. Many feel the fall may continue, but there could be bargain hunting in quality stocks, which may support the market.Nikhil Kamath co founder and head of trading Zerodha feels that, looking at the strength of the Indian Market on the back of weak global cues, he is changing outlook from slightly bearish to neutral.
The rise in interest rates ie rise in treasury yields will stroke inflation, which will lead to a fall in stock prices. Quality stocks will always do well. We have held on to Marico quoting at 297.20, City Union Bank quoting at 160. These stocks, have done well they might have fallen, from the peak attained recently but are on a high compared to the prices year ago.
The information is from Moneycontrol, Bloomberg quint and own .
