US inflation sends markets on a wild ride; FPIs pull out Rs 1,400 crore

Sensex swings 1,232 points before settling 224 points lower; FPIs pullout Rs 1,400 cr

Indian equities gyrated wildly on Wednesday as US inflation data for August raised the bets of a more aggressive hike by the US Federal Reserve (Fed). The Sensex dropped nearly 2 per cent on opening but recouped most of its losses by noon as stability returned to the global markets. In intraday trade, the index whipsawed 1,232 points as investors assessed the risks facing the global markets and whether the Indian markets can withstand them.

Sensex ended the session at 60,347, with a decline of 224 points, or 0.37 per cent. The Nifty50, on the other hand, ended the