Stocks end in the red fourth day in a row

The Indian stock markets on Thursday slumped drastically after witnessing selling pressure in major markets around the globe and an indication from the US Federal Reserve of fewer rate cuts next year, less than the anticipation of three or four.

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During the day the benchmark indices traded under pressure as the Sensex plunged over 1,100 points while the Nifty dipped below 24,000. At the close of the market, the Nifty 50 stood at 23,951.70, declining 247.15 points or 1.02 percent, and the Sensex ended at 79,218.05, declining 964.15 or 1.20 percent. This is the fourth day when the Indian stocks closed in red. Among the sectoral indices on NSE, Bank, Auto, Financial Services, FMCG, IT, Media, Metal, PSU Banks, Private Banks,