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.
Bu hikaye Hindustan Times Gurugram dergisinin December 21, 2024 sayısından alınmıştır.
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Bu hikaye Hindustan Times Gurugram dergisinin December 21, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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