Markets extend losses amid recession fears, indices dip second week on trot

Commentary by central banks on their resolve to tame inflation rattles investors, who were hoping that interest rates have peaked

Indian equity benchmarks continued their slide on Friday on concerns that the resolve of central banks to tame inflation will push countries into recession. The benchmark Sensex fell 461 points, or 0.7 per cent, to end the week at 61,338. The Nifty, on the other hand, ended the session at 18,269, a decline of 146 points or 0.8 per cent. Both the benchmark indices posted their second straight weekly decline.

The commentary by central banks on their resolve to tame inflation rattled investors, who were hoping that interest rates have peaked. Following the Federal Reserve, the European Central Bank (ECB)