Sensex, Nifty end lower as global cues weigh on sentiment
Mumbai, Oct 30
Indian stock markets closed sharply lower on Thursday, tracking weak global trends after the US Federal Reserve cut interest rates as expected but hinted that it could be the final cut of 2025.
Investor sentiment also remained cautious ahead of fresh updates on US-China trade talks.
The Sensex fell 592.67 points, or 0.7 per cent, to close at 84,404.46, while the Nifty declined 176.05 points, or 0.68 per cent, to settle at 25,877.85.
“The Nifty struggled to hold higher levels, with persistent selling dragging it lower. On the technical front, the Nifty has formed an immediate support zone near 25,800, while resistance is capped around 26,000,†experts stated.
Among Sensex constituents, Larsen & Toubro (L&T) was the top gainer, rising 0.91 per cent. BEL, Maruti Suzuki, Adani Ports, and Titan also gained.
Meanwhile, Bharti Airtel, Power Grid, Tech Mahindra, Infosys, and Bajaj Finance were the major laggards, falling over 1 per cent each.
In the broader market, the Nifty MidCap 100 index slipped up 0.09 per cent, while the Nifty SmallCap 100 dipped 0.1 per cent, showing mixed movement among smaller stocks.
Most sectoral indices ended in the red, except for Nifty Energy, which managed to stay positive.
Nifty Financial Services declined 0.7 per cent, while IT, Auto, Metal, Pharma, Bank, and Oil & Gas also slipped.
"As expected, the US Fed cut interest rates by 25 bps. However, the market consolidated after Powell indicated that this might be the last rate cut of 2025, tempering hopes of further monetary easing,†analysts said.
They added that the resulting strength in the US dollar contributed to a risk-off sentiment across emerging markets, including India.
“Meanwhile, investors remain watchful of the Trump–Xi trade negotiations, as the prevailing uncertainty around the discussions continues to keep market sentiment cautious," experts mentioned.
— IANS
Reader Comments
Good to see L&T and Adani Ports holding up despite the fall. These are solid companies with strong fundamentals. This might be a good buying opportunity for long-term investors! 💪
Why are we always so dependent on US Fed decisions? Our economy has strong domestic drivers. RBI should focus on creating more independent monetary policies rather than following global trends blindly.
The IT sector decline is worrying. Infosys and Tech Mahindra falling over 1% each shows how sensitive our tech companies are to global sentiment and US policies. Hope this is temporary.
Market correction was overdue after the recent rally. 25,800 support level holding is a positive sign. This is normal market behavior - buy on dips strategy should work well here 📈
Small and midcap indices showing minimal losses is encouraging! Retail investors like me who focus on these segments can breathe a little easier. The broader market resilience is impressive ðŸ™
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.