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2h ago

Hawkish Fed Cut Knocks Indian Stocks With Sensex Down 593, Nifty 176

A tougher Fed tone strengthened the dollar, stoking caution around US–China talks.

U.S. Federal Reserve Chairman Jerome Powell at the Federal Reserve on October 29, 2025. The Fed lowered interest rates by 25 basis points to 3.75 to 4 percent.
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A TV displays news about the Federal Reserve as traders work on the floor at the New York Stock Exchange in New York, Wednesday, Oct. 29, 2025. (AP Photo/Seth Wenig)

Overview

  • The Sensex closed at 84,404, down 0.70%, and the Nifty settled at 25,878, down 0.68%, after a sharp late-month pullback.
  • The US Federal Reserve cut rates by 25 bps while Chair Jerome Powell signaled further easing is not assured, reinforcing a stronger dollar and risk-off positioning in emerging markets.
  • Most sectors declined with Nifty Energy the lone gainer as Financial Services slipped 0.7% and IT, Auto, Metal, Pharma, Bank, and Oil & Gas traded lower.
  • Larsen & Toubro led gainers while Bharti Airtel, Power Grid, Tech Mahindra, Infosys, and Bajaj Finance lagged; Coal India advanced as a top Nifty performer as Dr Reddy’s and Cipla fell the most among pharma names.
  • The rupee weakened by 48 paise to 88.70 per US dollar as market breadth on the NSE favored sellers with 1,748 declines against 1,321 advances, while investors also tracked Trump–Xi updates on tariffs and rare earths.