At 10:55 am, the Sensex was at 34,203.10, down 143.29 points, while the Nifty 50 was at 10,504.15, down 50.15. Higher number of interest rate hikes in the US may spell trouble for emerging markets like India which stand to see exodus of foreign liquidity. “A large portion of the markets upmove was driven by FII money; which also excited local investors with a lag. Absence of foreign investors buying may lead to domestic investors’ halting their buying or taking profits creating a negative cycle,” he said. So far this year, FIIs have bought $506.80 million worth Indian shares, while domestic institutional investors (DIIs) pumped in Rs16,615 crore in the markets.

Source: Mint February 28, 2018 05:20 UTC