Sensex, Nifty fall over 1 %, snap two-day rally ahead of U.S. Fed interest rate decision
The Hindu
Stock markets tumble over 1% as investors await U.S. Fed decision, with Sensex and Nifty dropping significantly.
Benchmark Sensex and Nifty tumbled more than 1% on Thursday (November 7, 2024) after a two-day rally as investors remained on the sidelines ahead of the U.S. Federal Reserve interest rate decision and unabated foreign fund outflows.
The Bombay Stock Exchange (BSE) Sensex tanked 836.34 points or 1.04%, to settle at 79,541.79. During the day, it slumped 958.79 points or 1.19%, to 79,419.34.
The National Stock Exchange (NSE) Nifty dropped 284.70 points or 1.16%, to finish at 24,199.35.
From the 30-share Sensex pack, Tata Motors, Tech Mahindra, UltraTech Cement, JSW Steel, Sun Pharma, Asian Paints, IndusInd Bank and ICICI Bank were the major losers.
State Bank of India emerged as the only gainer from the pack.
Foreign institutional investors (FIIs) offloaded equities worth ₹4,445.59 crore on Wednesday (November 6, 2024), according to exchange data.
In Asian markets, Seoul, Shanghai and Hong Kong settled higher while Tokyo ended lower.
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