The decision of the US central bank Fed Reserve to cut the interest rate has a negative impact on the Indian stock market. In the initial trade, the Sensex was seen trading below 36 thousand 400.
The US Central Bank Fed Reserve has cut interest rates by 25 basis points as expected. Its negative impact is being seen on the Indian stock market. Sensex and Nifty started with a big fall on the fourth trading day of the week.
In the early trade, the Sensex fell more than 200 points to below 36 thousand 400, while the Nifty lost 70 points. In the first 15 minutes of trading, the Nifty fell below the level of 10 thousand 800. Shares of banking, IT and metal sectors crashed in early trade. The biggest decline in banking was seen in Yes Bank.
Recovery was seen on Wednesday
Earlier, the decline in the domestic stock market for two days came to a halt on Wednesday due to softening in crude oil and increasing investor confidence due to the strength of the rupee. On the third trading day of the week, the Sensex gained 82.79 points to 36 thousand 564 and the Nifty gained 23 points to end at 10 thousand 840 points. The Sensex touched a high of 36,712.99 and a low of 36,465.92 in day trading. Similarly, the Nifty touched a high of 10,885.15 and a low of 10,804.85 in day trading.
Advantage of Ban on e-Cigarette
Following the government's decision to ban e-cigarettes on the previous trading day, shares of ITC, Godfrey Phillips and other cigarette manufacturers rose sharply. Godfrey Phillips shares gained 5.55 per cent to 990.95, while ITC shares gained 1.03 per cent to close at 239.60. Shares of VST Industries and Golden Tobacco also gained momentum and closed up by 3.43 per cent and 4.69 per cent respectively.
Explain that the government has banned the e-cigarette by bringing an ordinance and a bill in this regard will be introduced in the Parliament in the winter session. Under this decision, for the first time, a one-year sentence or a fine of Rs 1 lakh has been imposed for violation of the law. For breaking the law again, a jail term of 3 years or a fine of Rs 5 lakh or both will be imposed.
