Bourses skid for 2nd day as global rate hikes dampen sentiment, Sensex slips over 461 pts

Mumbai: The BSE Sensex spiralled lower for the second straight session on Friday, in lockstep with other global markets after a host of central banks hiked interest rates and indicated more policy tightening to cool inflation even at the cost of economic

growth.

Investors wealth tumbled over Rs 5.78 lakh crore in two days of market fall amid a weak trend in global markets after a host of central banks hiked interest rates and gave hawkish commentary.

The 30-share BSE benchmark tumbled 461.22 points or 0.75 per cent to settle at 61,337.81.

The broader NSE Nifty declined 145.90 points or 0.79 per cent to end at 18,269.

Dr Reddy's was the top laggard in the Sensex pack, shedding 3.62 per cent, followed by M&M, Asian Paints, TCS, SBI, Titan, PowerGrid and Wipro.

Only four counters mustered gains — HDFC Bank, HUL, Nestle India and Tata Steel, rising up to 0.49 per cent.

All sectoral indices ended lower, with realty falling 1.57 per cent, followed by consumer discretionary (1.36 per cent), industrials (1.32 per cent), capital goods (1.26 per cent), teck (1.25 per cent), IT (1.24 per cent) and auto (1.13 per cent).

Brent crude futures, the global oil benchmark, declined 2.29 per cent to $79.35 per barrel. The rupee settled at 82.75 against the greenback, up by 1 paise over its previous

close of 82.76.