The BSE Sensex fell 78 points or 0.15% to 52,948 around midday on Thursday, extending losses from the prior session while heading to an over 4% slump for the month and being on its way to post its worst quarter since Q1 2020, amid mounting worries over aggressive central bank policy. The RBI has hiked interest rates twice during Q1 2022 and more hikes are expected as inflation was above the central bank's tolerance band for a fifth straight month in May. Meantime, foreign investors have sold Indian equities worth $13.81 billion in Q2, the biggest outflow since 2008. In the US, stocks ended mixed Wednesday after data showed the US economy shrank more than previously estimated while Fed Chair Powell said the central bank can lower inflation without triggering a recession. Notable losers were Bajaj Finance (-2.2%), Tata Steel (-1.5%), Hindalco (-1.2%), and Tata Motors (-0.8%). In contrast, shares of Axis Bank, Titan Company, and ICI Bank gained 1.5%, 1%, and 0.6%, respectively.
Historically, the SENSEX Stock Market Index reached an all time high of 62245.43 in October of 2021. SENSEX Stock Market Index - data, forecasts, historical chart - was last updated on June of 2022.
The SENSEX Stock Market Index is expected to trade at 51204.14 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 46890.99 in 12 months time.