Home ›› 19 Nov 2022 ›› Stock
Indian shares fell for the second session in a row on Friday as investors booked profit after recent gains, especially as yet another US Federal Reserve official doused hopes of less aggressive monetary policy.
The benchmark S&P BSE Sensex fell 0.42% to 61,489.95 and NSE Nifty 50 index (.NSEI) dropped 0.47% to 18,258.20 as of 0524 GMT. They are down about 0.4% for the week.
Both indexes had gained more than 2% in the wake of relatively soft U.S. inflation data last week, which had rekindled bets for smaller rate hikes, reported Reuters.
But they have dropped about 0.75% in the past two sessions as an increasing number of Fed officials fired warning shots on interest rates.
"Indian markets are in the overbought zone. Geopolitical tensions and the Fed again being on the hawkish mode are keeping Asian markets under pressure and Indian markets under profit-taking zone," said Prashanth Tapse, vice president of research at Mehta Equities.
