Investors fear foreign capital outflow from emerging markets like India after US rate hike
Equity benchmark Sensex tumbled 581 points on Thursday, coupled with a global sell-off after the US Federal Reserve signaled policy tightening from March.
The 30-share index closed 581.21 points or 1.00% lower at 57,276.94. Similarly, the NSE Nifty fell 167.80 points or 0.97% to end at 17,110.15.
HCL Tech was the top loser in the Sensex pack, falling over 4%, followed by Tech Mahindra Dr Reddy’s, Wipro, TCS, Titan and Infosys.
On the other hand, Axis Bank, SBI, Maruti and Kotak Bank were among the gainers.
The US Federal Reserve indicated on Wednesday that there is enough room to raise interest rates to fight inflation.
Investors fear foreign capital outflow from emerging markets like India after US rate hike
Elsewhere in Asia, shares in Shanghai, Hong Kong, Seoul and Tokyo ended sharply lower on the Fed’s stance.
Stock exchanges in Europe were also trading largely in the red in mid-session deals.
Meanwhile, international oil benchmark Brent crude fell 0.16% to $89.82 a barrel.
Foreign institutional investors (FIIs) remained net sellers in the capital markets on Tuesday, drawing ₹7,094.48 crore, as per provisional data.
,