The BSE Sensex slumped 0.68 per cent in the last two weeks to 58,840 on September 16 whereas the Nifty 50 index closed at 17,530.85 points. Meanwhile, the Small-Cap index surged by 0.49 per cent to 29,199.39 and the Mid-Cap index declined by 0.09 per cent to 25,558.21. Rating agency Fitch reduced India’s projected GDP growth for the current fiscal year from 7.8 per cent to 7 per cent earlier this week, citing a slowdown brought on by increased inflation, tighter monetary policy and global economic stress.
The S and P BSE Power index was one of the top gainers among all the other indices. It gained 2.12 per cent to quote at 5,250.66 points. India will need additional coal-based capacity of up to 28 GW by FY32 besides the 25 GW already under construction, according to the draft-national electricity plan. A sharp rise in commodity prices seen in FY22, if sustained, can reduce players’ profitability as a result of which it affected the Realty index negatively.
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