MarketBuzz Podcast With Sonia Shenoy: Brace for a gap-down opening in market amid rate hike fears

Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to make a gap-down start on Friday tracking weakness across global markets, as Fed Chairman Jerome Powell's remark that the US central bank will move aggressively to curb inflation brought back fears of steep hikes in pandemic-era interest rates. At 8:48 am, Singapore Exchange (SGX) Nifty futures -- an early indicator of the Nifty index -- were down 221 points or 1.3 percent at 17,186. Globally, news flow on the Russia-Ukraine war and rising COVID cases in parts of the world remained on investors' radar.