Mkts swing after Fed hike; Sensex, Nifty50 shed 1% each in intraday trade

The Nifty50 index fell 89 points, or 0.5 per cent, to close at 17,630. The India Vix index rose 2.6 per cent to finish at 18.82

Domestic markets wavered after the Federal Reserve (Fed) delivered a 75 basis-point hike and conceded that economic growth would have to be sacrificed to bring inflation down.

In a volatile day of trade, Sensex fell as much as 624 points and briefly entered positive territory. The index finished at 59,120, down 337 points, or 0.6 per cent, extending its two-day loss to 600 points, or 1 per cent. The correction in the domestic markets was less compared to most of its global peers. The Nifty50 index fell 89 points, or 0.5 per cent, to close at 17,630. The India Vix