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.
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