Sensex & Nifty 50 crash over 1%, Rupee falls to all-time low against $

Domestic benchmark indices, Sensex and Nifty 50, crashed over one percent each on Thursday, following the US Fed rate cut outlook. This marks the fourth consecutive session of losses for Indian markets. The Sensex closed 964 points, or 1.2 per cent, down at 79,218, while the Nifty 50 settled 247 points, or 1.02 per cent, lower at 23,951.Micro-, small-, and mid-cap shares too witnessed selling pressure, as Nifty Smallcap 100 closed 0.51% lower, Nifty Midcap 100 ended with a cut of 0.28%, and Nifty Microcap 250 settled 0.17% down.
Investors lost around Rs 4 lakh crore in Thursday's session. The cumulative market capitalisation of all BSE-listed stocks plunged to Rs 4,49,94,214.99 crore. On Wednesday, it was Rs 45,399,764.79 crore. Sun Pharma, Hindustan Unilever and Power Grid were the only gainers in Sensex. On the othe hand, Bajaj Finserv, JSW Steel, Asian Paints, and Bajaj Finance - all lost in the range 2-2.5%. ICICI Bank, Reliance Industries, TCS, Infosys and Tata Motors followed with cuts between 1.5-2%.
Gold and silver prices fell sharply in Delhi on Thursday due to a muted demand by jewellers amid a weak global trend, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity plunged Rs 800 to Rs 78,300 per 10 grams. It closed at Rs 79,100 per 10 grams in the previous trading session on Wednesday. Traders said the bullion prices slipped as the US Federal Reserve Chair Jerome Powell takes a stance after the US central bank decided to cut interest rates.
The Indian Rupee fell to an all-time low against the US dollar on Thursday, breaching the Rs 85 mark for the first time.This decline comes after the US Federal Reserve cut key interest rates by 25 bps and signalled fewer rate cuts in 2025.