Sensex Tanks 1,200 pts At Open, Nifty Below 17,200; Key Points

Sensex Today: Indian benchmark indices had a gap down opening on Monday morning after the US Federal Reserve Jerome Powell’s hawkish stance at the Jackson Hole meet dampened global sentiments. At 09:16 IST, the Sensex was down 1,210.62 points or 2.06% at 57623.25, and the Nifty was down 361.50 points or 2.06% at 17197.40.

Global Cues

Asian shares slid on Monday as the mounting risk of more aggressive rate hikes in the United States and Europe shoved bond yields higher and tested equity and earnings valuations.

Tokyo stocks opened lower Monday after US Federal Reserve Chair Jerome Powell declared his commitment to rate hikes to fight inflation. The benchmark Nikkei 225 index tumbled 1.69 per cent, or 484.75 points, to 28,156.63, while the broader Topix index slipped 1.62 per cent, or 31.59 points, to 1,948.00.

Wall Street ended Friday with all three benchmarks more than 3% lower, as Federal Reserve Chief Jerome Powell’s signal that the central bank would keep hiking rates to tame inflation nixed nascent hopes for a more modest path among some investors.

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