Markets see wild swings as traders weigh hawkish Fed, Budget uncertainty

The Sensex gained as much as 807 points, or 1.4 per cent, in intra-day trade only to give up all the gains to end at 57,200, with a loss of 77 points

The equity markets witnessed intense volatility on Friday, with the benchmark Nifty dropping over 1.5 per cent from the day’s high amid the hawkish pivot of the US Federal Reserve (Fed) and Union Budget uncertainty. Sustained selling by overseas investors weighed on the markets, which tried to rebound after closing at their lowest level in a month in the previous session.

Global markets also came off their highs as investors digested the fallout of a tighter monetary policy regime.

The Sensex gained as much as 807 points, or 1.4 per cent, in intra-day trade only to give up