Sensex Falls Over 250 Points After US Fed Signals A Hawkish Bias
NDTV
Stock Market India: Equity benchmarks extended losses from the previous session to slump in early trade on Thursday.
Indian equity benchmarks extended losses from the previous session to slump on Thursday after the US Federal Reserve hiked rates by 75 basis points (bps) for the fourth consecutive time and hinted at a higher peak in borrowing costs.
That paved the way for a protracted Fed tightening campaign which depressed bonds, boosted the dollar, and destroyed market expectations for a respite.
The NSE Nifty index fell 0.4 per cent but held just above the 18,000 level, and the BSE Sensex index declined 278 points to around 60,628 in early trade.
The Monetary Policy Committee (MPC) of the Reserve Bank of India will meet later in the day and is anticipated to debate how the bank would respond to the government after failing to achieve its inflation target for three consecutive quarters.
