The NSE Nifty 50 index fell 1.47% to 17,034.45 0352 GMT and the S&P BSE Sensex index fell 1.48% to 57,033.99 as trading resumed after Republic Day. Both indexes were about to experience a sixth session of decline in seven sessions.
Asian stocks fell to their lowest level in more than 14 months after the Fed chairman said on Wednesday that due to high inflation, the central bank plans this year to gradually tighten credit and end the extraordinary support it has provided to the US economy during the pandemic [MKTS/GLOB].
In India, only four of the 50 stocks in the Nifty 50 index were in positive territory while all major Nifty sub-indices slipped.
The Nifty Volatility Index, which indicates how much volatility traders expect for the next 30 days in the Nifty50 index, was up 9.4%.