Sensex, Nifty volatile in early trade, IT stocks outperform on Accenture earnings
metal stocks, amid lingering concerns over a slower pace of rate cuts by the US Federal Reserve.
The BSE Sensex was trading 300 points, or 0.41%, lower at 78,896.67. The Nifty50 was down 62.25 points, or 0.26%, trading at 23,889 around 9:53 am.
In the previous session, the Nifty and BSE Sensex also closed 1% lower after the Fed delivered a 25 basis points rate cut but forecast just two reductions in 2025, half of what policymakers anticipated in September.
The benchmark indices are on track for their first weekly decline in five weeks, with losses of nearly 3.5% so far.
From the Sensex stocks, Axis Bank, L&T, UltraTech Cement, ITC, JSW Steel, and Tata Steel opened with cuts, while NTPC, TCS, Bajaj Finance, Asian Paints, and Bharti Airtel opened with gains.
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