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Biggest single-day slump for markets in three months
Business Standard
|September 17, 2022
Sensex falls 1,093 points; prospect of outsized hikes by US Fed spooks investors
India's benchmark indices posted their I biggest single-day fall in three months as the sell-off in global markets continued amid a surge in the US dollar, which triggered bets of an outsized rate hike by the US Federal Reserve. A bunch of weak economic data, both domestic and global, also clouded the economic outlook.
The Sensex slumped 1,093 points, or 1.8 per cent, to finish at 58,841, while the Nifty ended at 17,531, with a decline of 346 points, or 1.9 per cent the steepest fall since June 16. Both indices fell about 1.7 per cent during the week, the most since the week ended June 19.
Foreign portfolio investors (FPIs) sold shares worth ₹3,260 crore on Friday, extending this week's sell-off. In the previous two trading sessions, they had sold equities worth ₹2,053 crore.
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