Equities end marginally lower, extend losses for fifth straight day
Sensex, Nifty, Share Prices LIVE: Dalal Street traded volatile on Wednesday morning as headline indices danced between gains and losses but a few hours into the day's trade Sensex and Nifty rose. S&P BSE Sensex was up 200 points crossing 55,500 while NSE Nifty 50 regained 16,500. Bank Nifty was seeing a tug of war between bulls and bears while India VIX rose nearly 2%, sitting above 18.5 levels. Asian paints was the top gainer on Sensex, up 1.16%, followed by Larsen & Toubro. Bharti Airtel, Dr Reddy's and Titan were the top laggards.
As fears of a global recession grow, India's GDP forecast has been trimmed by the International Monetary Fund (IMF) to 7.4% from 8.2% earlier. IMF's forecasts come at a time when the US economy has already shrunk by 1.5% in the March quarter and many fear that growth may have slipped into the negative zone in the June quarter as well. For the global real GDP growth, IMF has slashed its projections to 3.2% in 2022 from 3.6% forecast in April. IMF's projection was slightly higher than the 7.2% that the Reserve Bank of India projected earlier this year.
