Equities fall in early trade; Sensex slides 530 points
2 years, 3 months ago

Equities fall in early trade; Sensex slides 530 points

India TV News  

Highlights Asian market were in negative territory amid expectation of aggressive rate hike by Federal Reserve. Benchmark Sensex tumbled 530 points and the broader Nifty shed 172 points in early trade on Wednesday as concerns over further rate hikes by the US Federal Reserve to tame inflation and weak global cues spooked investor sentiments. After four continuous sessions of gains, the 30-share Sensex plunged 530.36 points or 0.88 percent to 60,040.72 points while the Nifty declined 150.75 points or 0.83 percent to 17,919.30 points. Asian markets were in negative territory amid expectations of aggressive rate hikes by the Federal Reserve to tackle inflation which was higher than expected in August. On Tuesday, the 30-share Sensex surged 455.95 points or 0.76 percent to close at a five-month high of 60,571.08 while the broader Nifty climbed 133.70 points or 0.75 percent to settle at 18,070.05.

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