BSE Sensex and Nifty 50 tanked nearly 3 per cent on Monday, on the back of inflation concerns, fears of aggressive interest rate hikes by the US Fed, volatile crude oil prices, Indian Rupee freefall, and FII outflows
Benchmark indices were sharply lower on Friday, tracking a plunge in global markets on inflation fears and ahead of the US May CPI data. In late morning deals, the BSE Sensex fell over 850 points to 54,461, while the NSE Nifty 50 shed 200 points to hover around 16,250.
On the S&P BSE Sensex, no stock hit a fresh 52-week high or 52-week low. While on BSE Sensex, a total of 47 stocks rose to their respective 52-week highs.
Indian equity markets came off day's highs after turning positive as the Reserve Bank of India (RBI) retained the FY23 GDP growth forecast at 7.2 per cent. Sectorally, Banks, Financials, Metals, PSBs and Realty indices held strong gains on the Nifty. While, Auto, Pharma, FMCG and Consumer Durables were subdued.