India Current Update

Stock Market Updates: TCS Lowers 3%, Paytm Increases 3%, Sensex Drops 350 Points, Nifty Below 22K

<p>Following a lackluster start to Tuesday’s trading session, equity benchmark indexes were expected to provide clues ahead of tomorrow’s US Federal Reserve meeting.</p>
<p>At 72,463, the S&P BSE Sensex opened 285 points down. The NSE Nifty 50 was seen quoting at levels of around 21,950.</p>
<p><img decoding=”async” class=”alignnone wp-image-525898″ src=”” alt=” stock market updates tcs lowers 3 paytm increases 3 sensex drops 350 points nifty” width=”1019″ height=”679″ title=”Stock Market Updates: TCS Lowers 3%, Paytm Increases 3%, Sensex Drops 350 Points, Nifty Below 22K 12″></p>
<p>TCS fell 2% to Rs 4,055 in response to rumours that Tata Sons will sell 23.4 million shares, or 0.65% of the company, in a block offer today at a floor price of Rs 4,001 per share.</p>
<p>Among the other big losses were Hindustan Unilever, Power Grid, NTPC, and HDFC Bank. Conversely, HCL Technologies and Sun Pharma had gains of around 0.5% each.</p>
<p>However, the wider indexes had a good start to the day. The BSE MidCap index increased by 0.2%, while the SmallCap index increased by 0.3%.</p>
<p><strong>worldwide cues</strong></p>
<p>Nikkei and Hang Seng both fell 0.7% Thursday morning in Asia. Kospi fell 1.3%, while Taiwan, Shanghai, and the Straits Times had slight declines.</p>
<p>Ahead of the US Federal Reserve meeting later this week, when the central bank is anticipated to maintain stable interest rates and provide clues on its monetary policy trajectory, the S&P 500 and Nasdaq saw overnight gains of up to 0.8%. The Dow Jones increased by 0.2%.</p>
<p>Prior to the US Fed meeting, the yield on the 10-year Treasury note was quoted at around 4.33 percent. Futures for Brent crude oil were trading at around $87 a barrel.</p>

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