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22122-nse-ian

The week that was, Nifty cracks by another 3%

Rising bond yields, elevated crude oil prices and fear that rising interest rates scenario is likely to drag economic growth is what is keeping equity markets on tenterhooks.

The Indian equity markets have extended their losing streak to second consecutive week. Indices were seen dancing to the tune of the global equity markets.

Rising bond yields, elevated oil prices and fear that rising interest rates scenario is likely to drag economic growth is what is keeping equity markets on tenterhooks.

Meanwhile, the Monetary Policy Committee maintained repo rate at 6% and continued with its neutral stance.

RBI expects inflation at 5.1% in the fourth quarter and projected growth at 6.7% for FY18 which is lower than its previous estimate.

Sugar sector was back in action after reports emerged that the government had doubled the import duty on sugar to 100%.

For the week, Nifty and Sensex declined by 3% each.