CLOSING BELL: The S&P BSE Sensex and the Nifty50 indices hit fresh 52-week lows as they spiraled 2 per cent down

MARKET LIVE: Sensex down 1,000pts, Nifty tests 15,350; Metals, Realty bleed

<b>CLOSING BELL</b><br />
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<strong>Stock market highlights: </strong>A relief rally in the markets quickly evaporated as investors read through the fine print of the US Federal Reserve&#39;s policy statement.&nbsp;<br />
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	Worries that the Fed&#39;s 75 basis point rate hike, the highest increase since 1994, meant that war against inflation was just getting started, hurt sentiment. Besides, the nearly 100-percentage point downward revision in economic growth forecast for 2022 hinted at &quot;mild recession&quot;, said economists.<br />
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	<strong>ALSO READ:&nbsp;<a href="https://www.business-standard.com/article/finance/rupee-at-80-10-year-igb-at-8-the-five-bearish-forecasts-from-ubs-122061600578_1.html?1655372375" target="_blank">The five bearish forecasts from UBS</a></strong></div>
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	Against this backdrop, the frontline indices hit fresh 52-week lows as they spiraled 2 per cent down. The S&P BSE Sensex plunged 1,646 points from the day&#39;s high to end at 51,496, down 1,046 points from Wednesday&#39;s close. It hit a low of 51,434 during the day.&nbsp;&nbsp;</div>
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	The Nifty50 index hit a low of 15,344 during the day, before recovering marginally to close at 15,361, down 332 points. In the broader markets, the BSE MidCap and SmallCap indices declined up to 2.87 per cent.<br />
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	<strong>ALSO READ:&nbsp;<a href="https://www.business-standard.com/article/markets/ubs-expects-retail-flows-into-equity-markets-to-slow-amid-rising-rates-122061600556_1.html?1655369665" target="_blank">UBS expects retail flows into equity markets to slow amid rising rates</a></strong></div>
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	Cyclical sectors were the worst hit amid fears of a global slowdown with the Nifty Metal index cracking 5 per cent. The Nifty Realty, Auto, Bank, and IT indices fell over 2 per cent each.&nbsp;</div>
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Recession fears hit global mkts; Sensex drops 1,046 pts, Nifty below 15,400

Business Standard

Recession fears hit global mkts; Sensex drops 1,046 pts, Nifty below 15,400 | News on Markets - Business Standard

NEWS ALERT :: May hike fares by 10-15%, if needed, says SpiceJet chairman Ajay Singh

&gt;&gt;&nbsp;Jet fuel prices in the national capital have hit an all-time high after rates were hiked by 16%. As it stands, aviation fuel costs Rs 1.41 lk/kL in Delhi.<br />
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&gt;&gt; Prices of the fuel have increased 91% in the last six months<br />
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All sectors off to a positive start; IT, PSBs upbeat

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Opening bell: Only 5 out of 30 Sensex counters in negative territory

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Opening bell: Over 550 points upmove for Sensex

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Opening bell: Bulls fuel Nifty50 above 15,800 levels

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Pre-open session: All Sensex counters sizzle in green

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Pre-open session: Over 450 points upmove for Sensex

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Pre-open session: Nifty50 sails above 15,750 levels

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Currency at open: Rupee opens 4 paise lower at 77.03/$

Stocks to watch: SBI, HDFC Bank, Yes Bank, Network18, JSW Steel, Zomato

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	Stocks to watch today: State Bank of India raised their MCLR lending rate by 20 basis points across all tenors; Network18 group firm Viacom18 eyes expansion after it bagged media rights for IPL. <a href="https://www.business-standard.com/article/markets/stocks-to-watch-today-sbi-hdfc-bank-yes-bank-network18-jsw-steel-zomato-122061600197_1.html" target="_blank"><strong>Read more</strong><br />
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	<img alt="People walk past the Bombay Stock Exchange (BSE) building, in Mumbai (Photo: PTI)" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-02/24/full/1645704199-7903.jpg?im=Resize,width=640" /></a></div>

Global update: Japan says watching impact of Fed rate hike

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		JAPAN CHIEF CABINET SECRETARY MATSUNO: WATCHING IMPACT OF FED INTEREST RATE RISE ON JAPAN AND WORLD ECONOMY, GIVEN ITS IMPACT ON FINANCIAL MARKETS</p>
	&mdash; First Squawk (@FirstSquawk) <a href="https://twitter.com/FirstSquawk/status/1537257853882249217?ref_src=twsrc%5Etfw">June 16, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

WATCH MARKET SPECIAL: Cement, steel, paint firms eye painful quarters ahead

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	Rising interest rates, along with elevated raw material cost, are hitting the building material sector hard. Find out about the near-term sore points for related industries and how to play the theme. <a href="https://www.business-standard.com/podcast/markets/cement-steel-paint-firms-eye-painful-quarters-ahead-122061600160_1.html" target="_blank"><strong>Read more</strong><br />
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	<img alt="Mumbai real estate, Mumbai housing" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-08/22/full/1629638057-0693.jpg?im=Resize,width=640" /></a></div>

How will 5G auction effect telcos and industry 4.0?

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	The govt has given its nod to the rollout of 5G services in India by conducting spectrum auction from July 26. How will all this impact the rollout of 5G, telcos and industry 4.0? <a href="https://www.business-standard.com/podcast/economy-policy/how-will-5g-auction-effect-telcos-and-industry-4-0-122061600167_1.html" target="_blank"><strong>Watch</strong><br />
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	<img alt="5G spectrum" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-08/27/full/1630085759-9943.jpg?im=Resize,width=640" /></a></div>
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DII stay upbeat: Buy shares worth Rs 2,588 crores on Wednesday

FII selloff: Sell shares worth Rs 3,531 crores on Wednesday