Following the US Fed's 75 basis points increase in interest rate, the Bank of England has increased its interest rate by 50 bps, the second consecutive half-point hike, and the Swiss National Bank has raised interest rates by 75 basis points. SGX Nifty at 17,560 (715 am) indicates another 100 points drop at open. Equites in Japan, Korea, Taiwan and Australia were down between 0.4 per cent and 1.5 per cent, in early deals on Friday. Analysts expect the central bank to increase the rate by 50 basis points. Amid a weakening rupee and inflation worries, analysts said Indian stocks would also come under pressure going forward.

Source: The Hindu September 23, 2022 15:47 UTC