Nifty snaps 8-day winning run on weak global cues; Sensex falls 652 points

Fed remarks, China growth concerns hit sentiment

Hawkish comments from US Federal Reserve officials and renewed concerns about a growth slowdown in China halted the Nifty’s eight-day winning streak, with the 50-share index falling 198 points, or 1.1 per cent, to finish at 17,758 on Friday. The index, however, still managed to post its fifth straight weekly gains.

On Thursday, the Nifty had edged up for an eighth straight day of gains — its longest winning run since November 2020. The Sensex on Friday ended with losses for the first time in six days, dropping 652 points, or 1.1 per cent, to settle at 59,646.

Most Asian markets fell