Sensex
2024-08-08
2409
(fxcue news) - Indian shares fell notably on Thursday after another tumble on Wall Street overnight and amid the RBI's status-quo rate decision.
Heightened geopolitical tensions and concerns about an economic slowdown in China and the U.S. weighed on markets.
Last week's disappointing nonfarm payrolls release has fueled concerns that the U.S. economy was heading into recession and that the Fed is behind the curve on inflation and interest rates.
JPMorgan economists now see a 35 percent chance that the U.S. economy tips into a recession by the end of this year, up from 25 percent as of the start of last month.
The benchmark S&P/BSE Sensex ended the session down 581.79 points, or 0.73 percent, at 78,886.22 as the Reserve Bank of India kept interest rates steady, as widely expected, and maintained its hawkish stance due to persistently high food inflation.
The broader NSE Nifty index settled at 24,117, down 180.50 points, or 0.74 percent, from its previous close.
Infosys, Apollo Hospitals Enterprise, Grasim and LTIMindtree fell 3-4 percent in the Nifty pack while HDFC Bank, Cipla, SBI Life, HDFC Life and Tata Motors rose 1-2 percent.
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