Wondering what’s happening in the market? Here’s everything you need to know, and the factors that could affect markets in the coming days.
1. Sensex & Nifty
At open, the Sensex was down ~1,274 points or 1.57 percent at ~79,708, and the Nifty was down 378 points or 1.53 percent at ~24,340.
2. Tepid Q1 show
For the 30 Nifty 50 companies that have reported their earnings so far, there is a 0.7 percent year on year growth but a 9.4 percent QoQ decline in net profits. The aggregate performance was hit by a sharp drag from global commodities.
3. Fear of US Recession
The US experienced a massive hiring slowdown in July (adding only 1,14,000 jobs monthly VS 2,15,000 monthly jobs monthly last year).
Additionally, unemployment has jumped to around 4.3 percent - the highest since October 2021.
4. Iran-Israel tensions
Tensions in the Middle East surge as Iran, Hamas, and Hezbollah promise to retaliate against Israel’s assassination of Hamas chief. Escalation in the Middle East may send oil prices surging.
5. Yen Reverse Trade
The Bank of Japan’s decision to raise interest rates has driven the Yen to its strongest value against the US dollar since March. Increased interest rates may prompt Japanese traders to sell securities they hold in world markets.
How’s everyone’s portfolio doing? 
Let us know in the thread below!
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