Sensex Falls Over 350 Points, Nifty Trades Below 17,600 On Weak Global Cues
NDTV
The Indian equity benchmarks on Tuesday fell in opening deals, tracking a weak trend in global markets.
The Indian equity benchmarks on Tuesday fell in opening deals, tracking a weak trend in global markets. Asian shares were down as Treasury yields spiked to a three year high ahead of U.S. inflation data which could foreshadow even more aggressive interest rate hikes from the Federal Reserve.
Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) also indicated a gap-down start for the domestic indices.
On the macroeconomic front, traders also eyed the Index of Industrial Production (IIP) and retail inflation data scheduled to be released later in the day.
The 30-share BSE Sensex tanked 359 points or 0.61 per cent to 58,606 in early trade, while the broader NSE Nifty moved 108 points or 0.61 per cent down to 17,567.
