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Stock Market Today
Following a four-day rise, benchmark indexes finished down on Wednesday amid a fluctuating trend in the world equities markets.
The 30-share BSE Sensex Today 3 Nov 2022 had a good start, but it was unable to hold onto its gains and finished 215.26 points, or 0.35 percent, down at 60,906.09. It decreased by 326.96 points or 0.53 percent over the day to reach 60,794.39.
Likewise, the NSE Nifty, which covers a wider range of stocks, dropped 62.55 points or 0.34 percent to close at 18,082.85.
From the Sensex, Today 3 Nov 2022 pack, Bharti Airtel, Maruti, Hindustan Unilever, Infosys, HCL Technologies, IndusInd Bank and Titan were the top laggards.
Sun Pharma, ITC, Tech Mahindra, Dr. Reddy’s, and Reliance Industries, on the other hand, were among the winners.
Sensex Today
The Sensex hit an intraday low of 60,794.39 while the wider Nifty fell to 18,048.65.
The top losses on the Sensex Today 3 Nov 2022 pack on Wednesday included Bharti Airtel, Maruti Suzuki India, Hindustan Unilever (HUL), Infosys, HCL Technologies, IndusInd Bank, Titan Company, and Axis Bank. The top gainers, on the other hand, included Sun Pharmaceutical Industries, ITC, Tech Mahindra, Dr. Reddy’s Laboratories, Reliance Industries (RIL), and Wipro.
Nifty50
The Nifty 50 dipped 62.55 points (0.34%) to finish at 18,082.85, while the S&P BSE Sensex dropped 215.26 points (0.35%) to conclude at 60,906.09. The day began with both indices starting flat, but as the session wore on, they both began to decline.
Prior to the FED meeting, the Nifty index experienced some selling pressure from the higher level. The undertone is still positive, and once the index breaks over 18200, there will be a rapid short covering move upward toward the levels of 18500–18800. The 17950–17800 area serves as the lower-end support and will serve as a stopgap on the downside.
Dow Jones and Nasdaq IndexToday
The Nasdaq composite sank 0.9%, while the Dow Jones Industrial Average declined 0.2%.
Large technological companies weighed heavily on the market. Due to their high values, corporations have more power to influence the direction of the whole market. Additionally, due to such high valuations, increasing interest rates tend to make the industry appear less alluring. Apple had a 1.8% decline.
The S&P 500 as a whole was dragged down by shares of communication services companies, retailers, and other businesses that depend on consumer spending, which restrained advances made by banks, energy companies, and other market sectors.
DAX Index
The DAX has seen significant gains over the past month, with October being the greatest month since November 2020 in terms of performance.
As a result, the price has risen above the falling trendline that dates back to the year’s beginning, moving closer to the important level of 13570.
The pattern of lower highs established thus far in 2022 would be reversed with a rally over the 13570 swing-high. There is still a potential that price may roll over and continue the overall negative trend up until that level is broken.
S and P 500
After an unexpectedly positive report on the labour market fueled fears that the Federal Reserve will need to maintain the pressure on inflation with aggressive interest rate rises, stocks on Wall Street gave up early gains and finished down on Tuesday.
After rising as much as 1% immediately after trading began, the S&P 500 dropped by 0.4%.
SGX Nifty
With a loss of 0.06 percent, SGX Nifty trends indicate that the Indian market as a whole is off to a bad start. Nifty futures were trading on the Singaporean market at 18,243.5.
Crude Oil Futures
According to Jason Draho, manager of the asset allocation for the Americas at UBS Global Wealth Management, “That really feeds the belief that the Fed needs to do further hikes.” For the Fed, the labor market is still too tight.
Wall Street worries that the central bank is overreacting in its attempts to slow the economy, running the danger of triggering a recession.
Stock Market Today’s Top Gainers
The Top Gainers in Today’s Stock Market are
| SUNPHARMA | 1051.75 | +1.81% |
| ITC | 354.40 | +1.43% |
| TECHM | 1081.70 | +0.94% |
| RELIANCE | 2545.40 | +0.62% |
| WIPRO | 393.90 | +0.37% |
Stock Market Today’s Top Losers
The Top Losers in Today’s Stock Market are
| BHARTIARTL | 809.90 | -3.05% |
| MARUTI | 9228.25 | -2.40% |
| HCLTECH | 1044.65 | -1.42% |
| HINDUNILVR | 2517.15 | -1.31% |
| INFY | 1552.45 | -1.29% |
Overall World Stock Market
Investors appeared to be looking beyond another expected increase in US interest rates and hoping for a slowdown in the pace of aggressive monetary tightening on Wednesday, as global share markets rose and the currency depreciated.
Later in the day, the Federal Reserve will wrap up a two-day meeting and is generally anticipated to announce a fourth rate increase of 75 basis points (bps) to curb persistently rising inflation. The major concern for the markets is whether the Fed will also indicate it might delay further rate increases, in a move known as a “dovish pivot.”
European stock markets began trading mainly stronger, equities outside of Japan in Asia rose to a two-week high, and US equity futures suggested that Wall Street would begin firmly.