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Mkt falls as traders remain cautious ahead of Fed meet
The New Indian Express
|November 08, 2024
DOMESTIC equity market dropped sharply on Thursday, erasing gains made on Wednesday following Republican candidate Donald Trump's victory in the US presidential election, which had initially boosted investor sentiment globally.
The recent decline reflects investors' caution ahead of the US Federal Reserve's critical monetary policy decision, set to be announced late Thursday.
The dip in equities was intensified by weak Q2FY25 earnings, a fall in rupee and persistent selling by foreign institutional investors (FIIs). Sensex closed 836.34 points or 1.04% lower at 79,541.79, and the Nifty settled 284.70 points or 1.16% lower at 24,199.30. The broader markets also settled in the red, with Nifty Midcap100 and Nifty Smallcap100 falling 0.43% and 0.75%, respectively.
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