Sensex, Nifty: Don't worry about the fall; medium-term trend is intact

On Friday, the benchmark S&P BSE Sensex tumbled as much as 722 points in intra-day deals

The Indian benchmark indices, much like their global peers, have been on a downward slope ever since the US Federal Reserve indicated that it might ease off economic stimulus earlier than previously thought.

The Fed policymakers, on Wednesday, estimated their benchmark rate would rise twice by late 2023, earlier than a previous forecast of no hikes before 2024. The Fed also indicated that it sees the US economy improving faster than expected. Ultra-low rates from the Fed and other central banks have propelled a global stock market rebound from last year's plunge amid the coronavirus pandemic.

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