CHENNAI: Indian equity markets closed lower on Thursday (October 30), as cautious global cues and concerns over US Federal Reserve commentary dampened investor sentiment. The BSE Sensex slipped over 500 points to close below the 85,000 mark, while the NSE Nifty 50 fell below 26,000, extending losses through the afternoon session.
The decline followed the Fed’s latest policy decision, which included an expected rate cut but a signal that further easing this year could be limited. The comments sparked risk aversion across global markets, prompting investors to book profits in recent outperformers.
Back home, selling pressure was seen across most sectors, with banking, IT, and metal stocks dragging the benchmarks lower. Broader indices also mirrored the weakness, though select FMCG and pharma shares managed to stay resilient.
Analysts were quoted in reports saying the correction reflected a cautious phase rather than a trend reversal, with traders eyeing upcoming macro data, corporate earnings, and the outcome of US–China trade discussions. Technically, the Nifty faces key support near 25,900, while resistance is expected around 26,300 in the near term.
Despite Thursday’s weakness, market sentiment remains underpinned by stable domestic fundamentals, steady earnings growth, and expectations of policy continuity. However, volatility is likely to persist until clearer signals emerge from global central banks and trade negotiations, the analysts say.
