Stock Market Updates: Sensex Down 300 pts, Nifty Below 19,850; SJVN Tanks 9% – News18

Sensex Today: Equity benchmark indices extended losses at the opening bell on Thursday tracking losses in global peers as the US Fed stuck with forecasts for one more rate hike this year and indicated that rates would stay higher for longer.

For 2024, policymakers now expect the fed funds rate to end at 5.1 per cent as against the June forecast for 4.6 per cent. However, Fed chief Jerome Powell said the central bank will ‘proceed carefully.’

The S&P BSE Sensex was down over 300 points at 66,500, while the NSE Nifty50 quoted near 19,830 levels.

HDFC Bank, ICICI Bank and Reliance were the chief draggers in early deals on the Sensex.

Global Cues

Overnight in the US, Nasdaq tumbled 1.5 per cent, and the S&P 500 declined nearly a per cent. Dow, however, ended with a modest 0.2 per cent loss.

In Asia, Japan’s Nikkei, Hang Seng, Straits Times, Kospi and Taiwan were down around 1 per cent each.