Indian benchmark indices declined today, halting a seven-day long winning streak, as stocks across the world fell after US Federal Reserve hinted more rate hikes ahead. Metal stocks were the worst hit as prices of most dollar-denominated metals fell after the US said it would withdraw sanctions on Russian aluminium producer. Finance and energy stocks were also under pressure.
However, gains in pharma, auto and select private banks limited losses. The Sensex recovered over 200 points to trade marginally lower. Intraday, the Sensex fell 281.43 points to a low of 36,202.90, and the Nifty 50 declined 87.25 points to 10,880.05.