Sensex sees worst day in two months on US Fed interest rate fears

Banking stocks were the biggest drag on the markets, with the sectoral gauge dropping nearly 1.7%

India’s stock market tumbled on Wednesday, along with global peers, on resurgent worries that the US Federal Reserve may have to raise interest rates more than what the Street has been factoring in.

The Sensex posted its worst single-day fall since December 23, plunging 1.52 per cent, or 928 points, to end the session at 59,745. The Nifty50 index closed at 17,554, with a decline of 272 points, or 1.53 per cent — the most since January 27. Overseas investors sold shares worth Rs 580 crore, while domestic institutions were net buyers to the tune of Rs 372 crore, according to