Share Market LIVE: SGX Nifty hints at muted start for Sensex, Nifty; IMF trims India’s growth forecast

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Share Market News Today | Sensex, Nifty, Share Prices LIVE: Ahead of the third trading session of the week, SGX Nifty was down with marginal losses, suggesting a tepid start to the day’s trade.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Dalal Street extended losses on Tuesday as bears forced headline indices lower. S&P BSE Sensex dived 497 points or 0.89% to settle at 55,268 while the NSE Nifty 50 index was 147 points lower at 16,483. India VIX has risen sharply this week, now back above 18 levels. Ahead of the third trading session of the week, SGX Nifty was down with marginal losses, suggesting a tepid start to the day’s trade. Global cues were weak after Wall Street equity indices closed in the red. Among Asian stock markets, Shanghai Composite, Hang Seng, Nikkei 225, TOPIX, and KOSPI were in the red. KOSDAQ was up with gains. 

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.

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