Indian Shares markets opened lower on the dawn of the Friday morning dragged by aggressive commentary by central banks , losses and US recession fears.
A higher borrowing cost as well as the fear of an imminent recession is hunting the household income of the World’s largest economy as the US retail sales in November fell more than expected.
Wall street shares fell sharply last night with Dow and Jones DJI , S&P 500 losing over 2% . The Tech savvy NASDAQ composite fell more than 3%
After the US federal reserve increased their rates, both the Bank of England and European Central Bank raided rates by half a percentage point each and conveyed an aggressive commentary hinting a prolonged hike rate cycle
The NIFTY 50 index fell by 0.25% as of 10:00 at 18367 and the S&P BSE sensex fell 0.22% at 61661
Asian stock fell for the second day with the japan index falling over 0.5%
Except NIFTY oil & Gas all other sectors continue to decline with NIFTY IT leading the losses
IT stocks continue their freefall since the Fed’s hawkish commentary as IT stocks are sensitive to US markets
($1= 82.86 INR )