India’s stock benchmarks inch lower; US-China talks in focus
- The Nifty 50 was down 0.27% at 25,984.4
India’s equity benchmarks inched lower on Thursday after the Federal Reserve cut interest rate as expected but hinted that the reduction might be the last of 2025, while investors awaited details from the trade talks between US and China.
The Nifty 50 was down 0.27% at 25,984.4, while the BSE Sensex lost 0.29% to 84,750.9, as of 9:15 a.m. IST.
Both benchmarks gained about 0.5% each on Wednesday, finishing less than 1% below the all-time highs hit in September 2024.
The US Fed cut interest rates by a 25 basis points but Chair Jerome Powell signalled that this could be last cut this year due to the lack of official data during the ongoing federal government shutdown.
Ten of the 16 major sectors opened lower on Thursday, while the broader small-caps and mid-caps rose 0.2% each.
Dr Reddy’s Laboratories lost 4.5%, and was the top Nifty loser, after it received a notice of non-compliance from Canada’s Pharmaceutical Drugs Directorate for Semaglutide injection, primarily used for diabetes management and weight loss.
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