Domestic equities indices, Sensex and Nifty, plunged over 2 per cent Wednesday — sharpest since June 2022 — dragged by HDFC Bank, which witnessed heavy selling after its third-quarter results disappointed investors, and global cues.
A comment from a senior US Federal Reserve official that interest rate cuts need to be calibrated, and not rushed, weighed on investors’ sentiments as it dampened hopes of early rate cuts by the American central bank.
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