Indian benchmark indices are trading lower amid negative global cues. Nifty is down by 1.3 % and Sensex is down by 1.34 %.
All sectoral indices are trading in the red. Kotak Mahindra Bank is down by 1.91 %. Adani Ports is the top loser on the index.
The US Federal Reserve’s signals towards the rate hike made the global markets correct. FED has to fight against the rising inflation. That’s why it intends to hike the rate. This will control the excess liquidity which has been fueling the phenomenal performance of global equity markets. However, the rate hike will control the excess liquidity. That’s why equity markets across the globe are witnessing selling pressure.