Indian shares tumbled on Friday after the European Central Bank sounded hawkish on guidance and parts of Shanghai and Beijing reimposed some COVID- relates restrictions, adding to concerns over slowing growth.
Investors also braced for U.S. consumer inflation data due out later in the day that could influence the Federal Reserve’s rate-hike roadmap for fighting inflation.
The benchmark S&P BSE Sensex plunged 1,016.84 points, or 1.84 percent, to 54,303.44, while the broader NSE Nifty index plummeted 276.30 points, or 1.68 percent, to settle at 16,201.80.
The rupee also hit a record low of 77.87 against the dollar on concerns over rising oil prices and persistent capital outflows.
Reliance Industries, Hindalco, HDFC, Kotak Mahindra Bank and Bajaj Finance fell 3-4 percent in the Nifty pack, while Grasim and Apollo Hospitals Enterprise both rose around 1 percent.
Sensex Plunges Over 1,000 Points On Rate Worries; Nifty Nears 16,200
2022-06-10 10:26:53
