Brief by Shorts91 Newsdesk / 08:01am on 19 Dec 2024,Thursday Business
India’s stock markets witnessed a sharp decline as global sell-offs deepened following the US Federal Reserve's cautious rate cut stance. The Sensex plummeted 1,153 points to 79,029.03, while the Nifty dropped over 200 points, closing at 23,966.25. The Fed's 0.25% rate cut, paired with signals of limited future reductions, triggered investor concerns. A record-low rupee, weaker bond yields, and FPI outflows of ₹1,317 crore added to the turmoil. Experts pointed to 23,900 as a critical support level for the Nifty. While volatility remains high, analysts advised avoiding panic selling and focusing on fundamentally strong stocks to navigate the market turbulence.
