The Sensex and Nifty are down more than 1%, reflecting weak global markets and the US Fed's hawkish tone. 

 

Equity benchmarks Sensex and Nifty took a heavy drubbing on Thursday, falling over 1 percent in step with every cent, in tandem with vulnerable global markets following the American Federal Reserve's interest rate hike and its hawkish stance.

 

 

 

The Sensex and Nifty were hammered on Thursday, falling more than 1% in tandem with vulnerable international markets in the aftermath of the US Federal Reserve's interest rate hike and hawkish stance. 

 

 

The 30-proportion BSE Sensex tanked by 878.88 factors or 1.40 percent to settle at 61,799.03. It fell 962.3 points, or 1.53 percent, to 61,715 sixty one during the day.

 

The broader NSE Nifty dropped 245.40 points, or 1.32 cents, to close at 18,414.90.

 

From the Sensex percent, Tech Mahindra, Titan, Infosys, HDFC, ITC, Tata Steel, HDFC Bank, Tata Consultancy Services, and the State Bank of India had been the predominant laggards.

 

NTPC and Sun Pharma have been the simplest winners.

 

Elsewhere in Asia, fairness markets in Seoul, Tokyo, Shanghai, and Hong Kong ended with decreases.

 

Equity exchanges in Europe have been buying and selling within the purple in mid-consultation offers. The US markets had ended inside the terrible territory on Wednesday.

 

The US Fed on Wednesday extended interest rates by 50 basis points based on expected strains and signalled greater hikes in advance to combat inflation. The US vital bank raised interest rates in line with inflation to 4.25-4.50 percent, the highest level in 15 years. 

 

 

"The Fed has startled the market by preserving its hawkish tone, as buyers had been looking forward to a softer technique after the discharge of better-than-anticipated inflation numbers.

 

"IT shares caused pessimism inside the home market as recession fears grew in the global economies following the Fed's remarks. "The market now awaits the BoE (Bank of England) and ECB (European Central Bank) decisions, which could result in a 1/2-point hike," said Vinod Nair, Head of Research at Geojit Financial Services.

 

Brent crude, the international oil benchmark, fell 0.77 percent to USD 82.06 per barrel.

 

According to trade data, foreign institutional investors (FIIs) were internet buyers on Wednesday, purchasing stocks worth Rs 372.16 crore.