Sensex tumbles 900 pts, Nifty around 17,300 as US inflation bites
The Sensex dropped over 600 points, while the Nifty started 191 points lower
The benchmark indices saw a negative start on Friday. The Sensex dropped over 600 points, while the Nifty started 191 points lower. On Thursday, the market extended gains for the third straight session following RBI's decision to hold the key rates and positive global cues.
However, Friday session is likely to see a churn. The higher-than-expected US inflation data rattled the Wall Street shares on Thursday as the fears of aggressive rate hikes by the US Federal Reserve gripped the market.
The US inflation rose 7.5%, which is a four-decade high, leading to hawkish comments from a Fed official. In Asia, shares in Shanghai and Japan rose, while South Korea, Hong Kong, and Australia retreated.
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