3 days Ago
As anticpated, the Indian markets opened for trade on Thursday, December 19, with deep cuts. The marquee indices, including the BSE Sensex and NSE Nifty, both started the day's trade with a major decline in their cumulative value. This is in tandem with other Asian markets, including Nikkei and Hang Seng, who themselves have fallen victim to the ripple effect that was initiated in the United States.
In a major development, the US Fed decided to further cut its interest rates by 25 basis points, taking the overall interest rates to the range of 4.25 per cent to 4.50 per cent.
What followed was the collapse of the US markets, with all Dow Jones, S&P 500 and Nasdaq crumbling. Coming to the Indian indices, the Sensex declined by over 1000 points at the opening. The Nifty declined by over 200 points.
At the time of writing the decline aberrated a little, This is a developing story, more details will follow soon.
