How to get updates on the Sensex Share Market Crash? Nifty at 21,850; Sensex down 580 points; losses in FMCG, IT, O&G, Health, and Pharma

How do I get updates on the Sensex Share Market Crash? Nifty at 21,850; Sensex down 580 points; losses in FMCG, IT, O&G, Health, and Pharma

Sensex Today | Live Updates on the Share Market Crash: Tuesday saw volatility in Japanese stocks and a drop in the value of the yen to almost 150 per dollar as the Bank of Japan ended eight years of negative interest rates and implemented the country’s first tightening of policy since 2007.

The BOJ’s departure from years of ultra-easy monetary policy marked the beginning of a new era during a week full of central bank meetings around the world.

The BOJ declared that it would pay 0.1% interest on excess reserves that financial institutions park with the central bank, and it would set the overnight call rate as its new target.

At 06:30 GMT, BOJ Governor Kazuo Ueda is scheduled to address the media about the decision. Traders are likely to be watching for any hints regarding the timing of future rate hikes.

“The BOJ made a cautious first move toward normalizing policy. The big question is what happens next,” said Frederic Neumann, chief Asia economist at HSBC. “Likely, the BOJ will find that it is getting’stuck at zero’, being unable to lift short-term interest rates meaningfully further in the coming quarters.”

The yen dropped 0.39% to 149.74 per dollar, signaling that the historic turn had already been priced into markets following weeks of policy hints and media reports that a change was imminent. Japan’s Nikkei was erratic, fluctuating between gains and losses.

Tuesday saw a decline in Chinese stocks, which followed the downturn of regional markets, as concerns over the nation’s worsening real estate crisis and weak domestic demand outweighed encouraging indicators of increased factory output.

Hong Kong-listed tech giants saw a 1.8% decline.

Analysts predict that the Federal Reserve’s policy decisions, such as when and how many rate cuts the US central bank projects for this year, will have a greater impact on the value of the yen. In addition, the BOJ pledged to maintain an accommodative policy, and traders expect rates to remain at zero for some time.

According to HSBC’s Neumann, “the BOJ may need to proceed extra cautiously with any further tightening as the Fed begins to ease policy to prevent the potential strength of the yen undermining hard-won gains in reflation.”

The Asia-Pacific MSCI broadest index outside of Japan dropped 0.62%. Blue-chip shares eased 0.3%, but China stocks fell, with Hong Kong’s Hang Seng index down more than 1%.

Tuesday saw the anticipated holding of interest rates by Australia’s central bank, which downplayed its bias toward tightening by emphasizing that it was making no policy decisions.

The majority of other major central banks have had rate cuts priced into financial markets since June, but the Reserve Bank of Australia stands out as having no such mid-year pricing.

After the ruling, the Australian dollar fell 0.3% to $0.65375. This year, the Australian dollar is down 4% versus the US dollar.

The market will be focusing on policymakers’ revised economic and interest rate projections as well as Chair Jerome Powell’s remarks on Wednesday, when it is generally expected that the Fed will keep rates steady.

The CME FedWatch tool indicated that traders are pricing in a 54.7% chance of the Fed beginning its easing cycle in June, which is significantly less than earlier expectations.

According to Erik Weisman, chief economist and portfolio manager at MFS Investment Management, “the Fed likely will not tell us if a June cut is the baseline, but will instead continue to express confidence that multiple cuts are still expected for this year.”

After rising to a three-week high of 4.348% on Monday, the yield on benchmark 10-year Treasury notes eased 1.4 basis points to 4.326% during Asian hours. The dollar’s index reached a two-week high of 103.67 as a result of the higher yields.

The spot price of gold in commodities was $2,160.51 per ounce. U.S. crude dropped 0.16% to $82.59 per barrel, while Brent finished the day at $86.74, down 0.17%.