Indian shares tumbled on Thursday, mirroring weak cues from Asia and Europe after the minutes from the Fed’s June meeting showed the central bank generally expects elevated inflation for the remainder of this year.
The minutes reflected a divided Fed wrestling with new inflation risks but still relatively high unemployment.
Rising COVID-10 cases in parts of the world, concerns about tighter regulation on technology companies in China and signs of policy easing to aid the Chinese economy also added fuel to concerns over slowing growth.
The benchmark 30-share BSE Sensex ended the session down 485.82 points, or 0.92 percent, at 52,568.94, while the broader NSE Nifty index dropped 151.75 points, or 0.96 percent, to 15,727.90.
ONGC, Tata Steel, Hindalco, JSW Steel and Tata Motors lost 2-3 percent, while SBI Life and Tech Mahindra rose about 1 percent each. TCS ended 0.7 percent lower ahead of its earnings release.
Market Analysis
Sensex, Nifty Plunge Amid Global Selloff
2021-07-08 11:26:27
