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Sensex, Nifty End At Five-Month Low On US Fed's Comments

The broader NSE Nifty closed down 1.24 per cent at 10,980, while the benchmark BSE Sensex ended 1.23 per cent lower at 37,018.32. Both indexes reported their worst percentage fall since early July.

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Indian shares ended at a five-month low on Thursday, dragged by public sector banks and metal stocks, as comments from the U.S. Federal Reserve Chair Jerome Powell on future rate cuts dampened investor sentiment across global markets.

Powell said the first U.S. rate cut in over a decade was "not the beginning of a long series of rate cuts".

The broader NSE Nifty closed down 1.24 per cent at 10,980, while the benchmark BSE Sensex ended 1.23 per cent lower at 37,018.32. Both indexes reported their worst percentage fall since early July.

The Nifty volatility index was up 7.12 per cent at the closing bell.

Among sectors, the Nifty metals index was down 3.13 per cent at the close after copper prices fell to a 3-week low following Powell's comments.

The Nifty public-sector banks' index closed 2.66 per cent lower, as sector heavyweight State Bank of India, the country's largest lender, ended down 4.5 per cent.

Tower operator Bharti Infratel led the gainers among the blue-chip stocks, closing up 2.1 per cent.

(Reuters)


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