{"id":110496,"date":"2023-09-21T16:34:31","date_gmt":"2023-09-21T11:04:31","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=110496"},"modified":"2023-09-21T16:34:36","modified_gmt":"2023-09-21T11:04:36","slug":"markets-down-for-a-third-day-on-weak-global-cues-icici-slumps-2-81","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/markets-down-for-a-third-day-on-weak-global-cues-icici-slumps-2-81\/","title":{"rendered":"Markets down for a third day on weak global cues; ICICI slumps 2.81%"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-30147510\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>For the third straight session, selling pressure caused the equity benchmark indexes Sensex and Nifty to falter, and they ended the day over 1 per cent lower on Thursday as investors reduced their exposure to shares of financial, banking, and automotive companies.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2664627038\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Following the US Federal Reserve&#8217;s announcement that they anticipate raising rates again this year to combat inflation, global equities declined.<\/p><p>The 30-share BSE Sensex dropped 570.60 points or 0.85 per cent to settle at 66,230.24. During the day, it plunged 672.13 points or 1 per cent to 66,128.71.<\/p><p>The Nifty lost 159.05 points, or 0.80 per cent to end at 19,742.35.<\/p><div class=\"trade-content_5\" id=\"trade-2285787260\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;Domestic market declined following a hawkish stance by the Fed chair and prolonged high-interest rate trajectory, which is not positive for a slowing global economy.<\/p><p>&#8220;PSU Banks and Mid and small-caps were the worst hit due to stretched valuations and concern over moderation in yields. Rising oil prices and erratic rainfall further led investors to stay cautious in the market,&#8221; Vinod Nair, Head of Research at Geojit Financial Services, said.<\/p><p>ICICI Bank was the biggest loser in the Sensex pack, slipping 2.81 per cent, followed by Mahindra &amp; Mahindra, State Bank of India, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Tata Motors, Bajaj Finserv, Axis Bank and Power Grid.<\/p><p>Tech Mahindra, Bharti Airtel, Infosys, Asian Paints, Hindustan Unilever, Larsen &amp; Toubro and Titan were the gainers.<\/p><p>In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory.<\/p><p>European markets were trading in the negative territory. The US markets ended in the red on Wednesday.<\/p><div class=\"trade-content-10\" id=\"trade-1403126572\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The US Federal Reserve left its key interest rate unchanged on Wednesday for the second time in its past three meetings, a sign that it&#8217;s moderating its fight against inflation as price pressures have eased. But, Fed officials also signalled that they expect to raise rates once more this year.<\/p><p>Global oil benchmark Brent crude dropped 0.81 per cent to USD 92.77 a barrel.<\/p><p>According to exchange data Foreign Institutional Investors (FIIs) sold equities worth Rs 3,110.69 crore on Wednesday.<\/p><p>The BSE benchmark had tumbled 796 points or 1.18 per cent to settle at 66,800.84 on Wednesday. The NSE Nifty declined 231.90 points or 1.15 per cent to end below the 20,000 mark at 19,901.40.<\/p><div class=\"trade-after-content\" id=\"trade-1110539885\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>For the third straight session, selling pressure caused the equity benchmark indexes Sensex and Nifty to falter, and they ended the day over 1 per cent lower on Thursday as investors reduced their exposure to shares of financial, banking, and automotive companies. Following the US Federal Reserve&#8217;s announcement that they anticipate raising rates again this [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-110496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Markets down for a third day on weak global cues; ICICI slumps 2.81% - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"For the third straight session, selling pressure caused the equity benchmark indexes Sensex and Nifty to falter, and they ended the day over 1 per cent lower on Thursday as investors reduced their exposure to shares of financial, banking, and automotive companies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/markets-down-for-a-third-day-on-weak-global-cues-icici-slumps-2-81\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Markets down for a third day on weak global cues; 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