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Nifty 50 slips below 22,000 as hawkish Fed, RBI rate outlook weigh

After four straight losing sessions, the Nifty 50 fell from 23,140 to 22,421, a weekly drop of 3.1%, as foreign selling and global bond yield pressures outweighed support from softer crude.

Reported · Written up by our desk · Asia

India’s Nifty 50 index is under pressure as experts point to expectations of a hawkish US Fed stance and an upcoming rate hike at the Reserve Bank of India’s monetary policy committee meeting, which they say could weigh on Nifty, Sensex, and other major Dalal Street indices, according to LiveMint Markets.

After a consecutive stock market downturn across all four sessions last week, the Nifty 50 slipped from 23,140 to 22,421, recording a weekly loss of 719 points, or 3.1%, LiveMint Markets reported.

The article cites persistent foreign selling, a weaker Indian rupee, and rising global bond yields as key factors that outweighed support from softer crude prices.

Shrikant Chouhan, Head Equity Research at Kotak Securities, said the market formed a long bearish weekly candle and is showing lower highs and lower lows on intraday charts, adding that the short term looks weak even though a pullback rally cannot be ruled out, according to LiveMint Markets.

Latest closeWTI crude $90.46 ▲1.2%|Sensex 72,529.07 ▼0.3%

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