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Indian shares end lower ---

February 12, 2022 00:00:00


BENGALURU, Feb 11 (Reuters): Indian shares ended sharply lower on Friday, dragged by worries of more foreign outflows after red-hot US inflation data increased bets on aggressive interest rate hikes by the Federal Reserve.

The NSE Nifty 50 index fell 1.3per cent to 17,374.75, while the S&P BSE Sensex closed 1.3per cent lower at 58,152.92. For the week, both indexes fell nearly 1per cent.

The Reserve Bank of India (RBI) on Thursday maintained its dovish stance and said continued policy support was warranted to help the economic recovery.

"There was some enthusiasm post the (RBI) policy. But, with global cues, again the (foreign) outflows are going to happen," said Anita Gandhi, director at Arihant Capital Markets, adding that the outflows would continue if the US rate hikes happened in March.

Foreign investors have sold a net $5.58 billion in Indian equities so far this year, Refinitiv data showed, compared with a net purchase of $5.08 billion in the same period last year.


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