The NSE Nifty fell 332.25 points, or 1.35%, to close at 24,336. The BSE Sensex declined 1,064.12 points, or 1.3%, to end at 80,684.45.
While the American central bank is expected to cut interest rates by 25 basis points, the near-term market trend will depend on the commentary by Fed chair Jerome Powell on the direction of the rates.
«The market will be driven by the Fed outlook for 2025, which will also determine the direction of the Dollar index and US 10-year bond yields, which will decide the fate of emerging markets,» said Sunny Agrawal, head of fundamental research at SBICaps Securities.
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