Equity benchmarks Sensex and Nifty in India suffered losses for the second consecutive day on Friday. The global market was bearish, and investors were nervous about the possibility of central banks hiking interest rates. Major indices such as Reliance Industries, Infosys, and L&T all experienced selling pressure and contributed to the downturn.
The BSE Sensex fell by 259.52 points or 0.41 per cent to close at 62,979.37, having tumbled to 364.77 points or 0.57 per cent to 62,874.12 during the day.
The global market’s bearish trend and central banks’ rate hike fears had an impact on the Indian market, causing a selloff. The selling pressure intensified on Friday as the major indices saw a lot of selling. The market trend was estimated to stay negative until there is clarity and a sign of strong buying interest.
