3 days Ago By Pawan Kumar
New Delhi: Indian stock markets took a steep fall on Thursday, following a sharp decline in US stocks overnight. The US Federal Reserve’s decision to cut interest rates by 25 basis points for the third time in a row, along with its cautious outlook on future rate cuts, rattled global markets. At the opening bell, the BSE Sensex was down by 1,153 points, or 1.
44 per cent, at 79,029.07. Meanwhile, the Nifty 50 dropped 321.
70 points, or 1.33 per cent, to trade at 23,877. The Federal Reserve reduced its benchmark interest rate to a range of 4.
25–4.5 per cent. While the cut was expected, the Fed's warning about slower easing of monetary policies in 2025 spooked investors, leading to a 3% fall in key US indices.
This negative sentiment is now impacting Indian markets as well. Adding to the pressure, foreign portfolio investors (FPIs) have been selling Indian equities in favor of other global markets offering better returns, further weighing on domestic indices. Despite the gloomy outlook for the secondary market, India's primary market is buzzing with activity.
Five mainline IPOs—DAM Capital Advisors, Transrail Lighting, Concord Enviro Systems, Sanathan Textiles, and Mamata Machinery—are opening for subscription today. Additionally, New Malayalam Steel’s IPO in the SME segment will also kick off. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Markets, Business Economy and around the world.
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