Sensex sinks below 51K, Nifty tests 15,200 on US recession fears, central bank tightening

June 17, 2022
June 17, 2022IANS - Mumbai

Benchmark stock indices fell on Friday morning after another steep fall for Wall Street stocks overnight, thanks to fears of recession in the world's largest economy. Concerns over tightening monetary policy globally also weighed on the sentiment.

The Bank of England on Thursday lifted rates for a fifth straight time to their highest since 2009. The Swiss central bank also increased its policy rate by half a per cent, the first time in 15 years. Meanwhile, the European Central Bank has also hinted at a rate hike soon.

At 9.30 am, the BSE Sensex was trading 497.90 points or 0.97 per cent lower at 50,997.89. Nifty50 was trading at 15,197.50, down 163.10 points or 1.06 per cent. Midcap and smallcap indices fell up to 1.8 per cent.