The Nifty 50 dropped 1.5% to 23,587.50 points at market close, while the BSE Sensex shed 1.5% to 78,041.59.
The Nifty fell below its 200-day moving average for the first time in a month. Both the benchmarks fell nearly 5% this week while the more domestically-focused smallcaps and midcaps lost about 3.5%.
"India has borne the brunt of foreign outflows this week, largely due to the Fed's commentary," said Aishvarya Dadheech, chief investment officer of Fident Asset Management.
On Wednesday, the Fed cut rates as expected but scaled back its forecast to two reductions in 2025 from four earlier.
U.S. rate cuts tend to help emerging markets assets, such as Indian equities, as they boost foreign inflows.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Zakir Hussain matlab tabla, says Pandit Hariprasad Chaurasia
Flautist and music director Pandit Hariprasad Chaurasia says it has been hard to process the death of tabla maestro Ustad Zakir Hussain, who was 13 years his junior.
I FEEL STRONGER THAN ANY MAN: SANJEEDA ON MOTHERHOOD
Actor Sanjeeda Shaikh, who turned 40 on Friday, talks about raising her daughter as a single mum and being open to a new relationship
Kolkata's audience has a different sense of cinema: Shantanu on Bengali debut
For actor Shantanu Maheshwari, 2024 has been quite a fulfilling year on the work front.
Emily Watson calls Tabu a 'true treasure'
Actor Tabu has forayed into international waters and she will be seen in the Dune universe through the web series, Dune: Prophecy.
'SUCCESS SE DIMAAG KHARAB NAHIN HONA CHAHIYE'
Actor Pankaj Tripathi was part of the biggest Bollywood hit this year, Stree 2, but box-office numbers don't impact him. \"It's great that a film made on such a nominal budget became a blockbuster. Par iss success se aapka dimaag kharab nahin hona chahiye. Ek thehraav rehna chahiye,\" he says.
2024 has been all about acclaim for Sanya Malhotra
Sanya Malhotra surprised her fans with her intense avatar in the music video of the track Aankh, which has been sung by musician Sunidhi Chauhan.
IFC bets ₹630 cr on NDR InvIT to bolster green warehousing
IFC has invested $75 million (about ₹630 crore) in domestic currency Sustainability Linked Bond issued by NDR InvIT in a strategic move to boost sustainable warehousing infrastructure and promote logistics sector.
India steel imports from China hit record high
CHINA SENT 1.96 MILLION METRIC TONNES OF STEEL TO INDIA DURING APRIL-NOVEMBER, UP 22.8% Y-O-Y
Claims of Reliance Infratel's indirect creditors upheld
The Supreme Court on Friday upheld the claims, amounting to more than ₹10,952 crore, of four indirect creditors of Reliance Infratel Ltd.
VOLATILE PRICES DAMPEN GOLD DEMAND IN INDIA
Gold demand in India remained subdued this week as volatile prices prompted potential buyers to delay purchases, while higher rates across China are expected to potentially offset upcoming seasonal demand.
