Markets Wrap – Wed, 22 Feb ‘23- Nifty, Sensex crash, rupee falls; Asia, US markets, Gold, Crude updates

Markets Wrap – Wed, 22 Feb ‘23: Nifty, Sensex crash, rupee falls; Asia, US markets, Gold, Crude updates

Domestic indices suffered huge losses on Wednesday dragging Nifty 50 below 17,560 and Sensex below 59,750. Bank Nifty breached the crucial level and closed below 40,000 as the negative global market sentiments triggered bloodbath on Dalal street. The only gainers on the Nifty 50 were ITC (up 0.50%) and Bajaj Auto (up 0.26%) while Adani Enterprises (down 11.05%), Adani Ports (down 7.24%), Grasim (down 3.44%), Bajaj Finance (down 2.94%) and JSW Steel (down 2.79%) were the losers.US Markets

The US markets ended Tuesday’s session broadly lower with Dow Jones Industrial Average tanking 697.01 pts or 2.06% to 33,129.59, tech-heavy Nasdaq sank 294.97 pts or 2.50% to 11,492.30 and S&P 500 plunged 81.75 pts or 2% to 3,997.34.

Asian Markets

Asian markets closed in the red territory on Wednesday. China’s Shanghai Composite Index fell 0.47%, South Korea’s KOSPI tanked 1.68%, Japan’s Nikkei 225 was down 1.34%, and Hong Kong’s Hang Seng tumbled 0.51%.

Rupee movement

The Indian rupee fell marginally by 0.05% to 82.85 against the US dollar at 3:52 PM (IST).

Gold, Silver

Gold futures on the multi-commodity exchange for April delivery were trading at Rs 56,140.00, down 28 points or 0.05% while Silver futures for March delivery fell 305 points or 0.46% to Rs 65,747.00.

Crude oil

WTI Crude futures for March delivery were down 1.75% at $75.02 while Brent Crude futures for March delivery were trading 1.43% lower at $81.86 at 3:55 PM (IST).