Stock market today: BSE Sensex plunges over 1,000 points; Nifty50 below 24,000 – Newz9

inventory market as we speak: BSE Sensex and Nifty50, the Indian fairness benchmark indices, tanked in opening commerce on Thursday after US Federal Reserve‘s hawkish commentary. While BSE Sensex went below 80,000, Nifty50 additionally plunged below 24,000. At 9:17 AM, BSE Sensex was buying and selling at 79,287.77, down 894 factors or 1.12%. Nifty50 was at 23,917.00, down 282 factors or 1.16%.
The Indian market is witnessing a decline within the early vacation season rally, with a stronger affect in India versus developed markets because of the greenback’s swift rise. Trading as we speak shall be influenced by the US Federal Reserve’s newest resolution.
“Market sentiment remains cautious ahead of potential policy and tariff shifts from the incoming US administration. This caution is further influenced by India’s premium valuation, which is significantly above the current earnings growth trajectory that has slowed over the last two quarters,” mentioned Vinod Nair. , Head of Research, Geojit Financial Services.
US indices recorded vital losses after the US Federal Reserve’s charge lower resolution. All three main indices recorded their largest single-day losses in months. This adopted the Federal Reserve’s resolution to scale back rates of interest by 0.25%, while their future projections indicated a extra conservative strategy to charge reductions within the coming 12 months.
Thursday witnessed Asian equities falling, following the substantial losses in US markets, after the Federal Reserve lowered expectations for rate of interest reductions subsequent 12 months.
The greenback approached a two-12 months excessive on Thursday following the Federal Reserve’s indication of lowered charge cuts in 2025. Simultaneously, the yen decreased to its lowest level in a month earlier than the Bank of Japan’s (BOJ) coverage announcement later within the day.
Gold costs remained close to their lowest level in a month on Thursday after the US Federal Reserve steered a deceleration in financial coverage easing for the subsequent 12 months, strengthening each the greenback and Treasury yields.
Foreign portfolio traders shifted to web promoting place with outflows of Rs 1,316 crore on Wednesday. Domestic institutional traders offloaded equities valued at Rs 4084 crore.
Foreign institutional traders’ web quick positions rose from Rs 91,098 crore on Tuesday to Rs 1.01 lakh crore on Wednesday.