Stock Market Today: Nifty 50, Sensex fall for second consecutive session; US Fed policy outcome in focus
Nifty 50 today: Domestic equity benchmarks the Nifty 50 and the Sensex extended their losses into the second consecutive session on Wednesday, November 1, amid mixed global cues ahead of the US Fed policy outcome. Investors remained cautious as they fixed their focus on the US Fed outcome.
The US central bank is expected to keep benchmark interest rates steady later today. Market participants and experts will carefully listen to Fed Chair Jerome Powell's comments to understand the future direction of interest rates and how long they will remain elevated.
Market experts are of the view that the domestic market may see a muted response to the Fed's pause on rate hikes. Deepak Jasani, Head of Retail Research at HDFC Securities expects the US Fed to keep interest rates steady at the current 22-year high level on Wednesday.
Jasani said global markets, including India, are expecting the US Fed to maintain rates and hence if it comes true, by itself it may not impact their trajectory. However, in case there is any surprise (positive or negative) in the Fed's commentary, then it could have an impact on Indian markets, though less than that in other developed economies.
Also Read: US Fed outcome expected today: How will the decision impact the Indian stock market? Nifty 50 today closed at 18,989.15, down 90 points, or 0.47 per cent while the Sensex ended 284 points, or 0.44 per cent, lower at 63,591.33. (More to come)"Exciting news! Mint is now on WhatsApp Channels
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