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9h ago

Sensex, Nifty Slip After Fed Cut as Powell Tempers Hopes

Powell’s caution cools risk appetite ahead of the Trump–Xi talks.

U.S. President Donald Trump and Chinese President Xi Jinping react as they hold a bilateral meeting at Gimhae International Airport, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Busan, South Korea, October 30, 2025. REUTERS/Evelyn Hockstein
Image
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won, center, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, Oct. 28, 2025. (AP Photo/Ahn Young-joon)
Federal Reserve Chairman Jerome Powell speaks at a news conference after the Federal Open Market Committee meeting Wednesday, Oct. 29, 2025, at the Federal Reserve Board Building in Washington. (AP Photo/Manuel Balce Ceneta)

Overview

  • Indian benchmarks opened lower on Thursday, with the Sensex down about 230–250 points and the Nifty falling below 26,000 despite the U.S. rate cut.
  • The Federal Reserve reduced the funds rate by 25 bps to 3.75-4.00%, and Chair Jerome Powell said a December cut is far from a foregone conclusion.
  • Foreign flows turned choppy, with provisional data showing FPI net selling of about Rs 2,540 crore on Wednesday after heavy buying of Rs 10,339.8 crore on Tuesday.
  • Traders are watching the planned meeting between President Donald Trump and President Xi Jinping for signals on a potential trade deal that could sway commodities and cyclicals.
  • Earnings and corporate updates remained active, including strong Q2 numbers from Larsen & Toubro and an MoU between CONCOR and JNPA for rail handling at the proposed Vadhvan Port.