Indian equity markets ended the day in red. Nifty 50 ended, down by 311.05 points. Sensex ended, down by 953.7 points. Top Gainers today were HCL, Infosys and Asian Paints. Top Losers today were Adani Ports, Tata Motors and Hindalco.
A host of negative factors brought the equity markets down today. Rupee touched a record low of 81.55/$. A number of central banks around the world have raised interest rates simultaneously. This has increased the risk of further worsening of global economic slowdown. This resulted in all sectors in Indian stock markets ending in red today.
Asian Development Bank in its recent report has adbvised RBI to go slow on interest rate hikes as economic activity in India has still not returned to pre-pandemic level.
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