Only for education per pas Indian shares dropped nearly 2% on Friday and were set for their worst week since November, as investors fretted that fast-paced interest rate hikes to tame surging inflation would slow global economic growth.
The NSE Nifty 50 index (NIFTY) was down 1.82% at 16,378.55, as of 0503 GMT, with all sectors trading in negative territory. The S&P BSE Sensex (.BSESN) fell 1.78% to 54,709.18.
The benchmark indexes were on track for a fourth straight weekly drop, shedding more than 6%, weighed down by a surprise interest rate hike by the Reserve Bank of India, foreign fund outflows and mixed corporate earnings results.
So far this week, foreign investors have net sold Indian equities worth $635 million, compared with $881 million offloaded in the same period last week, according to Refinitiv data.
The NSE Nifty 50 index (NIFTY) was down 1.82% at 16,378.55, as of 0503 GMT, with all sectors trading in negative territory. The S&P BSE Sensex (.BSESN) fell 1.78% to 54,709.18.
The benchmark indexes were on track for a fourth straight weekly drop, shedding more than 6%, weighed down by a surprise interest rate hike by the Reserve Bank of India, foreign fund outflows and mixed corporate earnings results.
So far this week, foreign investors have net sold Indian equities worth $635 million, compared with $881 million offloaded in the same period last week, according to Refinitiv data.