Stock rout deepens

 The equity sell-off has been accelerated across the world due to the fears of more rate hikes, high inflation and its impact on economic growth.

The Sensex declined 2.7 percent to 52,846 and nifty slumped 2.6 per cent to 15,774.

The rupee depreciated to an all time low of 78.04 against the US dollar. 

The S&P 500 slumped more than 20 per cent.Foreign portfolio investor continued to sell the shares and sold shares worth ₹4,164 crore.

This week the US federal Reserve is expected to hike the rates due to the inflation and markets are worried how aggresive it will be. Experts says that the Indian equities are unlikely to come out of the bearish phase till inflationary outlook improved in the US.