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Sensex Crashes Over 1,000 Points, Marking Three Straight Days Of Decline
Sensex Crashes Over 1,000 Points, Marking Three Straight Days Of Decline

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Stock Market India: Sensex sinks over 1,000 points

Equity benchmarks crashed on Friday to extend losses for the third straight session, as investors avoided risky investments driven by fears about global economic growth, underscoring the impact of the expected tighter monetary policy path by major central banks.

The BSE Sensex index slumped 1,020.80 points to end at 58,098.92, and the broader NSE Nifty plunged 302.45 points to 17,327.35.

As investors raced to keep up with the US Federal Reserve’s interest rate projection, Asian stocks limped toward a fourth consecutive weekly loss on Friday and bonds suffered significant losses.

“Because of Fed’s move, lot of money that were coming to emerging markets will head back,” Saurabh Jain, Assistant Vice-President for Research at SMC Global Securities, told Reuters.

According to data from Refinitiv Eikon, foreign investors bought net $819 million worth of Indian equities last week before net selling $152 million worth this week as of Thursday.

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