Sensex Halts 3-Day Winning Run, Plunges 773 Points, Nifty Settles Below 17,400
NDTV
The Indian equity benchmarks plunged on Friday, halting a three-day winning streak as investors worried about foreign fund outflows after U.S. inflation data marked the biggest annual increase in 40 years.
New Delhi: The Indian equity benchmarks plunged on Friday, halting a three-day winning streak as investors worried about foreign fund outflows after U.S. inflation data marked the biggest annual increase in 40 years. The 30-share BSE Sensex slumped 773 points or 1.31 per cent to close at 58,153, while the broader NSE Nifty settled 231 points or 1.31 per cent lower at 17,375.
Mid- and small-cap shares finished in the negative zone as Nifty Midcap 100 index fell 2.02 per cent and Nifty Smallcap 100 index moved 2.37 per cent lower.
All the 15 sector gauges -- compiled by the National Stock Exchange -- settled in red. Nifty IT underperformed the index, slipping as much as 2.72 per cent.
U.S. data showed that consumer prices surged 7.5 per cent in January on a year-over-year basis. Sentiment further soured after St. Louis Federal Reserve Bank President James Bullard said the data had made him "dramatically" more hawkish. Bullard, a voting member of the Fed's rate-setting committee this year, said he now wanted a full percentage point of interest rate hikes by July 1.
