The BSE SENSEX shed 378 points or 0.8% to 49,126 in early deals on Tuesday, falling for the first time in five sessions and tracking a weak close in US equities overnight, as traders were nervous that accelerating US inflation could lead to interest rate hikes sooner than expected. US inflation expectations in April surged to 3.4% in April, the highest in a decade on the back of an economic reopening from COVID-19-related shutdowns. On the bond market, the yield on US benchmark 10-year Treasury notes rose to 1.5914% on Monday after falling to a two-month low of 1.469% Friday. Locally, Indian coronavirus infections and deaths held close to record daily highs on Monday, increasing calls for Prime Minister Narendra Modi to lock down the nation. Meanwhile, the WHO has classified the virus variant first identified in India last year as a variant of global concern. Housing Development Finance Co sank 2.6%, while Kotak Mahindra Bank shed 2.2%.
Historically, the India SENSEX Stock Market Index reached an all time high of 52516.76 in February of 2021. India SENSEX Stock Market Index - data, forecasts, historical chart - was last updated on May of 2021.
The India SENSEX Stock Market Index is expected to trade at 48118.22 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 44847.29 in 12 months time.