IT and the banking sector drag as the Sensex loses 150 points and the Nifty drops 50 points.

 Following remarks made by two Fed officials that they were considering raising interest rates by 50 basis points to combat persistently rising inflation, there will be pressure on international markets. Domestically, the troubled Adani Group leadership assured investors they would deal with impending debt maturities in a variety of ways, including possibly issuing private placement notes and using operating cash flow.

Following Wall Street's lead, Indian shares opened lower on Friday as fresh U.S. economic data supported predictions that the Federal Reserve will maintain higher interest rates for longer. 

Ten out of the 13 important sectoral indices decreased. Financial and IT equities, which are considered to be heavyweights, down 0.5% and 1.16%, respectively. 

The decline in domestic shares follows a decline in Wall Street as a result of data showing a higher-than-anticipated increase in producer prices in January and a decline in jobless claims, indicating the Fed may maintain its high-rate regime. 

The largest economy in the world, where a sizable portion of the income for Indian IT companies comes from, may experience slower growth as a result. 

Between 1.25% and 1.5%, HCL Technologies, Tech Mahindra, and Wipro all experienced declines.

Post a Comment