Stock Market Updates: Sensex Tanks 1,000 Points, Nifty Opens Below 23,900

Last Updated: December 19, 2024, 10:03 IST

Stock Market Updates: All the 30 excellent supplies were trading reduced.

Stock Market Update: Benchmark indices Sensex and Nifty sagged in very early profession on Thursday adhering to weak international market patterns after the United States Federal Reserve showed less price cuts following year.

The 30-share BSE criteria Sensex tanked 1,162.12 indicate 79,020.08 in very early profession. The NSE Nifty toppled 328.55 indicate 23,870.30.

Why Market Is Down Today?

All the 30 excellent supplies were trading reduced. Infosys, State Bank of India, Tata Steel, Asian Paints, JSW Steel, Bajaj Finserv, Bajaj Finance and Mahindra & & Mahindra were the largest laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading reduced.

Wall Street finished greatly reduced on Wednesday.

“When assessments are high the marketplace requires just a trigger to fix greatly. This trigger was supplied by the Fed support of less price cuts in 2025, which violated market assumptions. Even though the price cut of 25 bps accorded with the marketplace’s assumption, the indicator of just 2 cuts of 25 bps each in 2025 versus market assumption of 3 and even 4 cuts startled the marketplace causing a sharp sell-off in Wall Street.

“The Fed principal’s remarks relating to the economic climate and the work market are, actually, favorable, recommending a durable United States economic climate. But constantly the marketplace obtains startled when the truth disappoints assumptions,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,316.81 crore on Wednesday, according to exchange data.

“The Federal Reserve cut its benchmark interest rate by 25 basis points, marking the third consecutive reduction this year, but bullish sentiment waned as the Fed lowered its 2025 projections to just two additional cuts,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, stated.

Global oil criteria Brent unrefined dipped 0.40 percent to USD 73.10 a barrel.

The BSE criteria Sensex toppled 502.25 factors or 0.62 percent to resolve at 80,182.20, taking its drop to the 3rd day onWednesday The Nifty decreased 137.15 factors or 0.56 percent to 24,198.85.