Benchmark indices on Wednesday opened in red over US rate hike worries. The BSE benchmark shedded 258 points to reach at 34,088 points while Nifty fell 87 points to trade below the 10,500 mark. Cautious trade also happened as Investors are waiting for the GDP growth data for the quarter of October-December, that has been scheduled to release at 5:30 PM. Fears of faster US rate hikes have caused anxiety that other central banks will start to tighten policy and raise borrowing costs. That would in turn hurt corporate earnings, clouding the outlook for what had been expected to be another solid year of global economic growth.

Source: dna February 28, 2018 04:08 UTC