Sensex, Nifty crash after Fed rate cut announcement: Top losers today
Hindustan TimesIndian stocks markets today dropped sharply in early trade on Thursday, following the US Federal Reserve indicating fewer rate cuts next year. The stocks which took the biggest hit on Thursday are: Asian Paints Bajaj Finance Bajaj Finserv Kotak Bank JSW Steel Infosys Mahindra and Mahindra Tech Mahindra HDFC Bank ICICI Bank Sharp sell-off after Fed rate announcement The sharp sell-off was triggered by global market weakness after the US Federal Reserve signaled fewer interest rate cuts in 2025. Rate cuts in the US typically help emerging market assets, such as Indian equities, as they boost foreign inflows. Ajay Bagga, Banking and Market Expert told ANI that "Risk off is hitting all markets today as the Fed projections of rate cuts for 2025 led to a steep sell off in US stocks, Gold, Silver, EM currencies vs the US Dollar and led to bond yields in the US going up.