A mild recovery post a gap-down start quickly dismantled during the last hour of the session as market participants offloaded metal and rate-sensitive counters

MARKET LIVE: Sensex dips 300 pts, Nifty below 15,700; India VIX up 4%

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	<strong>Stock market updates</strong>: A surprisingly hawkish tone by the US Federal Reserve -- where it guided for two potential rate hikes in 2023 -- crushed equities across the globe on Thursday as investors feared global central banks may hike rates sooner than expected.<br />
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	US Treasury yields gained overnight and dollar strengthened against the rupee to its highest level in six weeks, hammering equity prices on Dalal Street. This comes on the day of weekly F&O expiry, adding to the overall volatility.</div>
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	A mild recovery post a gap-down start quickly dismantled during the last hour of the session as market participants offloaded metal and rate-sensitive counters.&nbsp;</div>
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	The frontline S&P BSE Sensex declined 484 points from the day&#39;s high and hit a low of 52,040. However, it ended at 52,323 levels, down 179 points or 0.34 per cent. On the NSE, the Nifty50 index breached below its immediate support of 15,650 and hit a low of 15,616. It recovered marginally to end at 15,691 levels, down 76 points or 0.48 per cent.</div>
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	In the broader markets, the BSE MidCap index cracked 1.3 per cent while the BSE SmallCap index slipped 0.58 per cent.</div>
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	Sectorally, the Nifty Metal index slipped 2 per cent, followed by the Nifty Realty index (1.6 per cent) and the Nifty PSB and Auto indices (around 1.5 per cent each). The Nifty FMCG and IT indices, on the other hand, gained 0.14 per cent and 0.57 per cent, respectively.</div>
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	<strong>Global markets</strong></div>
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	Global stock markets were mostly lower Thursday after the Federal Reserve indicated it might ease off economic stimulus earlier than previously thought.</div>
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	In Asia, the Nikkei 225 in Tokyo lost 0.9 per cent, South Korea&#39;s Kospi and Australia&#39;s S&P-ASX 200 shed 0.4 per cent each. China&#39;s Shanghai Composite Index, on the contrary, rose 0.2 per cent while Hong Kong&#39;s Hang Seng added 0.4 per cent.</div>
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	In Europe, too, the pan-European STOXX 600 index was down 0.3 per cent, the UK&#39;s FTSE 100 lost 0.3 per cent, and Frankfurt&#39;s DAX was off less than 0.1 per cent. The CAC 40 in Paris also retreated 0.1 per cent.</div>
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	On Wall Street, futures for the benchmark S&P 500 index and the Dow Jones Industrial Average were down 0.3 per cent.</div>
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	In the commodities market, Gold and Silver futures tanked 2 per cent each while Brent Crude was up over 1 per cent on MCX.</div>
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Hawkish US Fed tone hits D-Street; Sensex slips 179 pts; IT stocks shine

Business Standard

Hawkish US Fed tone hits D-Street; Sensex slips 179 pts; IT stocks shine | News on Markets - Business Standard

US MARKET UPDATE :: Wall Street closes lower

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	The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected. The Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&amp;P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.&nbsp;</div>
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	<em>(Source: Reuters)</em></div>
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