MUMBAI: Desperation swept over global markets on Thursday after the US Federal Reserve indicated a slower easing of interest rates, sending Indian stocks lower for the fourth day in a row. Markets now await the onset of the annual Santa Claus rally, when stocks tend to rise during the Christmas-New Year holiday season.
While reducing the US policy rate by 25 basis points, the Fed signaled it may reduce rates twice in 2025 instead of four times as projected earlier. The Nifty and Sensex fell in line with global peers as foreign investors dumped domestic bluechip stocks. The cut in Fed's rate forecast strengthened the dollar, dragging the rupee below 85 per dollar to a new low.
The Nifty closed below 24,000, settling 1.02% lower at 23951.70, while the Sensex closed below 80,000, shedding 1.2% to 79218.05. The day saw intense selling in banks, technology, and oil and gas, heavyweight sectors where foreign portfolio investors (FPIs) have a sizeable presence.
The market undertone remains bearish, with domestic indices likely to take cues from their global peers, though analysts don't rule out a bounce after the straight four days of straight decline.
هذه القصة مأخوذة من طبعة December 20, 2024 من Hindustan Times Haryana.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 20, 2024 من Hindustan Times Haryana.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Rahi trigger happy again after neuro-muscular memory loss
Rahi Sarnobat recalls that autumn day of 2022 with clarity. Indian shooters, following a medalless Tokyo Olympics campaign a year before, were gearing up for the Cairo World Championships and Rahi, still carrying the scars of Tokyo, couldn't wait for the first Olympic qualifier of the new cycle.
Crowd pleaser Pant needs to rediscover himself again
The enforcer at No.5 is yet to get going and the visitors will hope he has the same impact Head has had with the Aussies
1st women's ODI: In-form India hold all aces vs WI
India will be eager to exploit their recent form and a historical advantage to subdue West Indies in the three-match women's ODI series, beginning here with the first contest on Sunday.
ANMOLPREET SMASHES FASTEST LIST A HUNDRED BY AN INDIAN
Anmolpreet Singh smashed the quickest List A hundred by an Indian, a 35-ball effort, to guide Punjab to an easy nine-wicket win over Arunachal Pradesh in a Group C Vijay Hazare match here on Saturday.
Villa heap pain on slumping Man City
PREMIER LEAGUE
Ashwin and Jadeja: A pair broken up after 12 seasons
It seemed odd to hear Ravindra Jadeja talk about R Ashwin in the past tense.
ISRAELI AIRSTRIKES KILL AT LEAST 25 PALESTINIANS IN GAZA, MEDICS SAY
Israeli airstrikes killed at least 25 Palestinians in the Gaza Strip on Friday, medics said, including at least eight in an apartment in the Nuseirat refugee camp and at least 10, including seven children, in the town of Jabalia.
US drops bounty for Syria's new leader
Washington is scrapping a long-standing reward for the arrest of Syria's new leader, a senior US diplomat said on Friday, following \"positive messages\" from a first meeting that included a promise to fight terrorism.
ICELAND SOCIAL DEMOCRATS PRESENT NEW COALITION GOVT
Iceland's Social Democratic Alliance, on Saturday, presented a three-party coalition government, vowing to stabilise the economy after emerging as Iceland's biggest party in November's elections.
Man ploughs through German market, kills 5
Describing himself as a former Muslim, the suspect shared dozens of tweets and retweets daily focusing on anti-Islam themes and criticising the religion
