Sensex and Nifty almost 2% down amid rising oil price, FII sell-off, and US job data

Sensex and Nifty almost 2% down amid rising oil price, FII sell-off, and US job data
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Today both Sensex and Nifty were almost 2% down because according to the recently released data, 4.67 lakh new jobs were added in the month of January in the US which is more than the market expectation.

Apart from this rising inflation and crude oil prices are also going concerns. Recently crude oil prices had gone up to $95 per barrel.

Due to the improving job market scenario and rising inflation in the US, it is now expected that the Fed can now focus on controlling inflation, due to which the US 10-year bond yield, which is currently at 1.91%, may rise further.

It is believed that the US Fed may increase the interest rate by 50 basis points in the next meeting to be held in March.

Due to these reasons, FIIs have also sold equity worth Rs 1.14 lakh crore in the Indian market since October 2021.

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This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.

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