Sensex, Nifty Edge Lower; IT, Banking Shares Among Top Drags

The Indian fairness benchmarks edged decrease on Tuesday mirroring losses in world markets with the Sensex falling as a lot as 172 factors and the Nifty 50 index touching an intraday low of 17,640. Asian shares suffered heavy losses early on Tuesday following a broad sell-off on Wall Road, as markets fretted concerning the influence of multi-year excessive oil costs at a time when provide chain disruptions are already placing strain on financial exercise.

As of 9:21 am, the Sensex was down 101 factors at 59,198 and Nifty 50 index slipped 12 factors to 17,679.

MSCI’s broadest index of Asia-Pacific shares outdoors Japan dropped as a lot as 1.3 per cent, falling for a 3rd consecutive session. Japan shares have been down 2.8 per cent, South Korea gave up 2.5 per cent and Australia shed 1 per cent. The drop in markets took MSCI’s primary benchmark to 619.87, the bottom since November 2020. It has shed greater than 5 per cent this yr, with Hong Kong and Japanese markets among the many huge losers.

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