Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, tanked in trade on Thursday as foreign investors sold extensively on US Federal Reserve’s cautious commentary regarding future rate cuts.Nifty50, the broader 50-share index, dropped by 176.05 points or 0.68 per cent to close below 25,900 at 25,877.85. The BSE Sensex, comprising 30 shares, plunged by 592.67 points or 0.70 per cent, closing at 84,404.46. During trading hours, it fell by 684.48 points or 0.80 per cent to 84,312.65.Among Sensex companies, significant losers were Bharti Airtel, Power Grid, Tech Mahindra, Infosys, Bajaj Finance and Reliance Industries.In contrast, top gainers were Larsen & Toubro, Bharat Electronics, UltraTech Cement and Maruti.“As expected, the US Fed cut interest rates by 25 bps. However, the market consolidated after Chair Jerome Powell indicated that this might be the last rate cut of 2025, tempering hopes of further monetary easing. The resulting strength in the US dollar contributed to a risk-off sentiment across emerging markets, including India,” Vinod Nair, Head of Research, Geojit Investments Limited, said.In Asian trading, Shanghai’s SSE Composite and Hong Kong’s Hang Seng declined, whilst South Korea’s Kospi and Japan’s Nikkei 225 finished positively.European markets traded lower, while US markets showed mixed results on Wednesday.“Markets witnessed broad-based selling on Thursday as uncertainty over the US Federal Reserve’s future rate cut trajectory outweighed earlier optimism, dampening global risk sentiment and prompting investors to turn cautious. FIIs continued to book profits, while DIIs extended selective buying support, helping cushion the market from a deeper decline,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.The international oil benchmark Brent crude decreased 0.59 per cent to USD 64.54 per barrel.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
