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Sensex plunges over 500 points

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Sensex down by more than 500 points

The Sensex fell more than 500 points on Tuesday as investors await commentary from the US Federal Reserve. BSE Sensex is trading at 72,161.54 points, down 586.88 points. Nestle is down more than 3 per cent while TCS is down more than 2 per cent after buzz of a block deal in the stock.

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, stated that a change in the global market construct could occur if the Fed sends a hawkish message stronger than market expectations due to recent trends in US inflation. Investors are waiting for clarity on the Fed response on Wednesday.

Deepak Jasani, Head of Retail Research, HDFC Securities, mentioned that investors in Asia will be closely monitoring China, where the top securities regulator revealed a developer falsely inflated revenue by more than $78 billion. Shares in the Asian-Pacific region are trading under pressure as investors await cues from various central bank decisions over the week.

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The resilience of the US market supported by the robust economy and the end of deflation in Japan are contributing to the ongoing global market situation. The Nikkei index posting record highs adds to this sentiment.

Overall, investors are cautious and keeping a close eye on developments in the global market, central bank decisions, and any unexpected events that may impact the financial landscape in the coming days.

The market remains volatile, and analysts suggest staying updated with the latest news and information to make informed investment decisions. Stay tuned for updates on the evolving market situation.

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–IANS
biz/san/uk

IANS, established in 1986, is India's largest independent news service, offering 24x7 news from India and South Asia, and a preferred source for diverse content across six business verticals.

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