India stocks bearish for 3rd day over monetary policy tightening worries

Sep 16, 2022

New Delhi, Sept 16 (ANI): Indian stocks started Friday's trade in the red, extending losses for the third straight session, on concerns of aggressive global monetary policy tightening by various central banks to avert recessionary fears. At 9.26 am, Sensex traded at 59,598.92 points, down 335.09 points or 0.56 per cent, whereas Nifty traded at 17,784.25 points, down 93.15 points or 0.52 per cent. Among the Nifty 50 companies, 33 declined, 16 advanced and 1 traded steady this morning, National Stock Exchange data showed. Snapping fourth straight session gains, Indian stocks earlier on Wednesday declined sharply because of consistent red-hot consumer inflation in the US and the strong possibility of further rise in interest rates. Consumer inflation in the US though declined marginally in August to 8.3 per cent from 8.5 per cent in July but is way above the 2 per cent goal.