BSE Sensex and Nifty extend losses for the third day as IT stocks fall

On Tuesday, Indian market indexes fell for the third day in a row as a severe sell-off in information technology firms offset gains in financials.

On Tuesday, Indian market indexes fell for the third day in a row. As a severe sell-off in information technology firms offset gains in financials. Investors are waiting for minutes from the Federal Reserve’s latest policy meeting, which are expected later today. To combat the United States’ 40-year-high inflation. Some senior Fed policymakers support two additional large interest rate hikes as early as June and July.

Market participants also anticipated that raising interest rates would drag the world’s largest economy to a halt, disrupting domestic growth.

The 30-share BSE Sensex dropped 303 points, or 0.56 percent, to 53,749, while the wider NSE Nifty sank 99 points, or 0.62 percent, to 16,026. During today’s session, the Sensex moved in a 696-point band.

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