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“Demand has gone up post-Covid because of a lot of spending by various governments. At the same time, supply had not caught up. So there is a reason why we have seen a very big increase in steel prices. These now appear to be correcting, driven by a bit of slowdown in the overall demand side.”

Amid choppy trade, both Nifty and Sensex swung between gains and losses to finally settled in the red, with the 30-share pack falling 106 points to 54,365. NSE barometer Nifty, meanwhile, settled below the 16,250 mark.

The nation’s forex reserves stood at $598 billion, latest data showed. While that is down 7% from a record high of over $640 billion in September due to a mix of intervention and valuation changes, it still fares well on key metrics, including import coverage and short-term debt obligation, according to DBS Bank Ltd.’s senior economist, Radhika Rao.

The pan-European STOXX 600 index rose 1.2%, with most sectors barring defensive healthcare stocks gaining.

The Nikkei ended the day down 0.58% at 26,167.10, cutting losses in the afternoon session as U.S. stock futures rallied.

The message from the Fed is very clear. The era of cheap and ample money is over. It is important to appreciate the fact that humungous liquidity has played an important role in the global bull rally that began after the market crash of March 2020.

Navin Fluorine International Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 18740.75 Crore) operating in Chemicals sector.

The revenue from sales for the period came in at Rs 7,889.94 crore, up 20.60 per cent from Rs 6,541.94 crore that it reported in the corresponding quarter last year.

Technology stocks are down significantly in most countries. Some names in the US have dropped as much as 90 per cent. Many of the recently listed companies in India are also trading below their issue prices. They include names like AGS Transact, Paytm, PolicyBazaar, Fino Payments, CarTrade, Zomato, among others.

But the fall in Nifty500 at 8 per cent in 2022 has been pretty comforting, compared with a 16 per cent drop in the S&P500 index during the same period.