Indian equity benchmark indices on Tuesday fell for the third straight session, as traders braced for aggressive hikes from the Federal Reserve, with the biggest interest rate boost since 1994 already baked into bets.
The BSE benchmark opened substantially down in the morning, tracking the global market selloff, and remained turbulent throughout the day. The index, on the other hand, momentarily moved into positive territory before giving up little gains near the finish. But, it eventually closed at 52,694, down 153 points or 0.29 percent. Similarly, the NSE Nifty closed at 15,757.10, down 17.30 points or 0.11 percent.
IndusInd Bank, Tech Mahindra, Reliance, Maruti, HUL, and HDFC Bank were among the worst performers on the Sensex, losing as much as 2.12 percent. NTPC, Ultratech Cement, Bharti Airtel, M&M, Infosys, and Dr Reddy's, on the other hand, were the top gainers, increasing as much as 2.22 percent.
The Sensex breadth favoured buyers, with 16 stocks closing in the green.The BSE Energy, Oil&Gas, and Metal sectors all declined by as much as 1.12%.
Investors fear that rapid rate hikes could force the world's largest economy into recession, so other Asian markets closed down as well, followed by overnight selling in US shares.
Top Cryptocurrency Prices: Check Bitcoin, Ether today
Adani, Total Energies to build world's first-ever green hydrogen ecosystem
WB keeps Malaysia's economic growth on richer scale