Top News Podcast: Market crashes after Fed rate hike, jet fuel at record high, COVID cases hit a 4-month peak and more

Sensex and Nifty50 ended their relief rally seen post the US Federal Reserve 75 basis points (bps) hike, to finish at 13-month lows on Thursday amid selling across the sectors.

In this edition of Top News Podcast, CNBCTV18.com’s Kanishka Sarkar shares the latest on stock markets, fuel prices, politics, the pandemic and more.

Spicejet and IndiGo stocks were under pressure after aviation turbine fuel (ATF) or jet fuel prices were hiked 16.3 percent to a record high of Rs 1.41 lakh per kilolitre. The prices have been up 91 percent in the past six months and according to analysts, they form over 40 percent of the operational cost for airlines.

As indicated by Spicejet earlier in the day, this may lead to increased airfares.

On the healthcare front, India recorded a single-day spike of over 12,000 COVID-19 cases, as per the Union Health Ministry data at 8am. This is the highest one-day jump in cases in 4 months. The country also witnessed 11 deaths in a day.

Meanwhile, the subject expert committee (SEC) under the Drugs Controller General of India (DCGI) will review the first indigenously designed qHPV vaccine against cervical cancer by the Serum Institute of India (SII) today.

In an update on politics, Congress's protest against Rahul Gandhi's questioning by the Enforcement Directorate (ED) continued in several parts of the country, including Karnataka, Delhi, Uttar Pradesh, Rajasthan, Kerala, Hyderabad and Chennai.