The US stock exchanges fell sharply in overnight trading on Thursday.
The US stock exchanges fell sharply in overnight trading on Thursday.
Stock benchmarks tumbled on Friday, with the Sensex plunging 866.65 points to close below the 55,000 mark amid a sell-off in global markets.
Unabated outflows of foreign funds and firm crude oil prices also weighed on sentiment.
The 30-stock BSE Sensex fell 866.65 points, or 1.56%, to end at 54,835.58. On the day, it fell 1,115.48 points, or 2%, to 54,586.75.
Similarly, the NSE Nifty fell 271.40 points, or 1.63%, to settle at 16,411.25.
From the Sensex package, the biggest laggards were Bajaj Finance, Axis Bank, Bajaj Finserv, Nestle, Wipro, HDFC, Infosys, HDFC Bank, and UltraTech Cement.
Tech Mahindra, PowerGrid, ITC, SBI and NTPC were among the winners.
Elsewhere in Asia, markets in Hong Kong, Shanghai and Korea settled significantly lower, while Tokyo ended higher.
Stock markets in Europe traded in negative territory for the afternoon session.
The US stock exchanges fell sharply in overnight trading on Thursday.
“US markets staged a recovery rally on Wednesday after the FOMC meeting, but collapsed on Thursday as concerns mounted over rising interest rates,” said Mohit Nigam, Head – PMS, Hem Securities.
The Bank of England raised interest rates to their highest level in 13 years on Thursday.
“A precipitous fall in US stocks as the market assessed the need for a higher rate hike to tame elevated inflation levels hurt global markets with heavy selling. The Bank of England, while raising interest rates, warned of a potential recession risk and compounded investor fears,” said Vinod Nair, head of research at Geojit Financial Services.
Meanwhile, international oil benchmark Brent rose 2.20% to $113.3 a barrel.
Foreign institutional investors sold a net £2,074.74 billion worth of shares on Thursday, according to stock market data.
