The 30-share Sensex closed at 84,404.46, down 0.70 per cent. During the day, it had hit a low of 84,312.65, losing 684.48 points or 0.80 per cent. Meanwhile, the 50-share Nifty declined 176.05 points or 0.68 per cent
On Wednesday, the Sensex had risen 368.97 points or 0.44 per cent to settle at 84,997.13. Representational pic
Equity markets fell sharply on Thursday, with the Bombay Stock Exchange (BSE) Sensex tumbling 592.67 points and the National Stock Exchange (NSE) Nifty slipping to 25,877.85, as fresh foreign fund outflows and lack of clarity on the future course of United States (US) Federal Reserve rate cuts weighed on investor sentiment, news agency PTI reported.
The 30-share Sensex closed at 84,404.46, down 0.70 per cent. Earlier in the day, it had hit a low of 84,312.65, losing 684.48 points or 0.80 per cent.
Meanwhile, the 50-share Nifty declined 176.05 points or 0.68 per cent, PTI reported.
Among the Sensex constituents, Bharti Airtel, Power Grid, Tech Mahindra, Infosys, Bajaj Finance, and Reliance Industries were major laggards, while Larsen & Toubro, Bharat Electronics, UltraTech Cement, and Maruti closed higher.
Foreign Institutional Investors (FIIs) sold equities worth Rs 2,540.16 crore on Wednesday, while Domestic Institutional Investors (DIIs) purchased equities worth Rs 5,692.81 crore, according to exchange data.
“As expected, the US Fed cut interest rates by 25 basis points. However, the market consolidated after Chair Jerome Powell indicated that this might be the last rate cut of 2025, tempering hopes of further monetary easing. The resulting strength in the US dollar contributed to a risk-off sentiment across emerging markets, including India,” said Vinod Nair, head of research at Geojit Investments Ltd.
In Asian markets, Shanghai’s SSE Composite and Hong Kong’s Hang Seng settled lower, while South Korea’s Kospi and Japan’s Nikkei 225 ended in positive territory, PTI reported. European markets also traded lower, while US markets closed mixed on Wednesday.
“Markets witnessed broad-based selling on Thursday as uncertainty over the US Federal Reserve’s future rate cut trajectory outweighed earlier optimism, dampening global risk sentiment. FIIs continued to book profits, while DIIs extended selective buying support, helping cushion the market from a deeper decline,” said Ponmudi R, chief executive officer (CEO) of Enrich Money, an online trading and wealth-tech firm.
Global oil benchmark Brent crude fell 0.59 per cent to USD 64.54 a barrel.
On Wednesday, the Sensex had surged by 368.97 points or 0.44 per cent to close at 84,997.13, while the Nifty had gained 117.70 points or 0.45 per cent to close at 26,053.90.
(With PTI inputs)
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