the nifty 50 index was down 099 at 1823740 as of 1050 am ist and the sp bse sensex fell 095 to 6121752bengaluru indian shares declined on tuesday dragged by broadbased losses across sectors on fears of a recession in the us and a surge in covid19 cases in china which has offset optimism over loosening strict pandemic restrictions the nifty 50 index was down 099 at 1823740 as of 1050 am ist and the sp bse sensex fell 095 to 6121752 barring adani enterprises axis bank ultratech cement and hero motocorp all the other 46 constituents in nifty 50 logged losses advt all the major sectoral indices declined with auto fmcg information technology and metal stocks shedding over 1 markets are fearing that recession is going to be extremely strong in the us and europe said avinash gorakshakar head of research at profitmart securities sectors linked to export markets like it and metals are likely to face the heat he added analysts also added that us macroeconomic data due later this week commentary from federal reserve officials and the uncertainty over demand revival in china could hurt indian markets in the very near term asian markets fell sharply today after the bank of japans boj decision to allow longterm interest rates to rise further soured sentiment it added to concerns after chinas decadelow business confidence data and the recent rise in covid19 infections the msci asia ex japan declined 175 the indian rupee weakened 010 versus the us dollar quoting at 8278 per dollar on poor risk appetite and higher us yields following the hawkish boj policy outcome while wall street equities extended losses overnight among individual stocks dabur india fell over 25 on a report that its promoters are planning to sell shares worth 8 billion rupees 9671 million airlines stocks such as spicejet and interglobe aviation rose marginally in a weak market after domestic air traffic rose 11 in november according to data released by directorate general of civil aviation also read uniform tax on small big cars will not augur well for auto industry growth maruti suzuki chairmanat present automobiles are taxed at 28 per cent gst with additional cess ranging from 1 per cent to 22 per cent depending on the type of vehicle cars imported as completely built units cbu attract customs duty ranging between 60 per cent and 100 per cent depending on engine size and cost insurance and freight cif value being less or above usd 40000see more details ev sector hiring set to gain momentum next yearhiring in the sector is seen growing by 4050 in the next 612 months as companies look to strengthen their teams across functions to cater to capacity expansion and new product launches according to industry officials and staffing companiessee more details advt reuters published on dec 20 2022 at 0109 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post