Nifty, Sensex Fall For Third Straight Session On Darkening Global Outlook

Equity benchmarks extended their decline for the third straight session on Friday, reflecting investors’ sentiment for safety-first driven by major central banks’ aggressive tightening path to tame elevated inflation, which has darkened the global economic outlook.

The BSE Sensex index fell over 100 points and the broader NSE Nifty opened lower.

Following another day of losses for US equities and rising Treasury yields that highlight tighter monetary policy concerns and a faltering global economy, Asian bourses reflected a sea of red and heading for their sixth weekly decrease.

Following the S&P 500’s Friday closing at its lowest level since June, stocks declined in Hong Kong, Australia, and South Korea, even as US futures were see-sawing between gains and losses, suggesting a more volatile session.