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Sensex falls 621 points on hawkish US Fed, Omicron

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MUMBAI: The minutes of the last meeting of US Federal Reserve’s policy-setting body, published late on Wednesday, showed that its members were hawkish on the rate of interest in the world’s largest economy. This led to a global selloff in stocks. As a result, the sensex fell over 900 points in early trades on Thursday and closed 621 points, or 1%, lower at 59,602 with Reliance Industries, HDFC Bank and Infosys contributing the most to the loss.
The sensex closed lower after four consecutive sessions of gains, during which it added nearly 2,500 points. The rising number of new Covid infections daily across the country, which could potentially derail the slow and fragile economic revival process, is also making market players nervous.
On Thursday, Nikkei in Japan closed nearly 3% off while the FTSE in the UK was down nearly 1% in late sessions. In early trades in the US, most leading indices were down between 0.4% and 1%. End of the session data on the BSE showed that in Thursday’s market, foreign funds were net sellers at Rs 1,927 crore – the first such net outflow figure in 2022.

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Salman Sahr

Salman is a journalist at UsamaSpeaks.com and he deals with Latest News, World News, and Business News. Salman is a very professional and authentic news journalist.

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