Share Market News Today Live: Sensex tumbles over 750 points, Nifty tests 17,650; Tata Consumer Products, Tech Mahindra among top drags
Indian equity benchmarks staged a gap-down opening on Friday, in line with the weak global trend. Asian markets were lower today as investors braced for a U.S. rate hike next week amid concerns of a global recession after warnings from the World Bank and the International Monetary Fund (IMF). Overnight, Wall Street ended the previous session with mild losses and the index is down 4.1 per cent so far this month.
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The Dow Jones Industrial Average Futures were down 0.50 per cent, the S&P 500 Futures lost 0.60 per cent and the Nasdaq Composite Futures dropped 0.72 per cent, indicating a lower start for US stocks today.
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The global economic outlook remains downbeat and some countries are expected to slip into recession in 2023, but it is too early to say if there will be a widespread global recession, the IMF stated.
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In comparison, the World Bank said the world could be edging towards a global recession in 2023 as central banks across the world simultaneously hike interest rates to combat persistent inflation. The world’s three largest economies – the United States, China, and the euro zone – have been slowing sharply, and even a “moderate hit to the global economy over the next year could tip it into recession,” it added.
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Here are the share market Live Updates:
