Business Standard

Sensex, Nifty tumble 2% on Federal Reserve's steep interest rate hike

Foreign investors sold shares worth 3,257.65 crore on Thursday, taking their year-to-date selling tally past the Rs 2-trllion mark

People walk past the Bombay Stock Exchange (BSE) building, in Mumbai (Photo: PTI)
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People walk past the Bombay Stock Exchange (BSE) building, in Mumbai (Photo: PTI)

Sundar Sethuraman Mumbai
India’s equity markets extended their rout on Thursday, along with international peers, as investors fled risky assets on fears of a global recession after the US Federal Reserve raised its interest rates by 75 basis points — its biggest increase since 1994 — and signalled another big hike next month.

The initial rally seen after the Fed announcement — on Wall Street on Wednesday and in Asian markets on Thursday morning — faded as investors braced for a hard landing of the economy. The Sensex had risen 600 points in early trade and later plunged over 1,700 points from the day’s

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First Published: Jun 16 2022 | 9:44 PM IST

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