Indian Stock Market Tumbles Amid US Fed’s Hawkish Comments

• Frontline stock indices fell over 1% on Thursday, while the Indian rupee hit an all-time low.

• The sell-off, likely led by Foreign Portfolio Investors (FPIs), caused the INR to depreciate to an all-time low of 85.1300 (spot) to U.S.$.

• The INR fell over 18 paisa to a dollar from its previous close of 84.9450.

• The S&P BSE Sensex plunged by 964 points, or 1.2%, to 79,218.

• IndusInd Bank, Nestle India, and Asian Paints hit 52-week lows.

• The NSE Nifty-50 index also fell by 247 points or 1.02% to 23,952 points.

• IT, Defence, and financial indices shed over 1%.