Ahead of Market: 10 things that will decide stock market action on Monday
Federal Reserve's projection of fewer rate cuts next year, triggering foreign fund outflows.
The benchmark BSE Sensex lost 1176.46 points or 1.49% to settle at 78,041.59, while the broader Nifty 50 index closed at 23,587.50, lower by 364.20 points or 1.52%.
Here's how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said that disappointment regarding the slower-than-anticipated rate cuts by the US Fed has adversely affected global market sentiment.
“This bearish outlook is particularly impacting the domestic market, which is already contending with high valuations & low earnings growth. The sell-off has been widespread, with significant declines in mid- and small-cap stocks, where valuations premiumisation is at historical peak. The IT sector is notably underperforming as it was amongst the best performers in anticipation of rapid rate cuts in 2025," Nair added.
US markets
US stocks rallied to close out the trading week on Friday after two lackluster sessions as a cooler-than-expected inflation report and comments from Federal Reserve officials eased worries about the path of interest rates.
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