Indian stocks slump on global monetary policy tightening; Rupee at new low

Indian stocks extended their losses from the previous session and declined further on Friday morning following the latest policy rates hike by the US Federal Reserve in its fight against high inflation. At 10.05 am, Sensex and Nifty traded in the 0.8-0.9 per cent range. Further tightening of monetary policy in the US essentially means that investors will have a tendency to move to the US markets for better and stable returns.

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