Indian shares plunged on Friday, with the benchmarks logging their first weekly decline in five weeks, as sentiment soured after the Federal Reserve projected fewer rate cuts next year, spurring an exodus of foreign funds.
The Nifty 50 dropped 1.5% to 23,587.50 points at market close, while the BSE Sensex shed 1.5% to 78,041.59.
The Nifty fell below its 200-day moving average for the first time in a month. Both the benchmarks fell nearly 5% this week while the more domestically-focused smallcaps and midcaps lost about 3.5%.
"India has borne the brunt of foreign outflows this week, largely due to the Fed's commentary," said Aishvarya Dadheech, chief investment officer of Fident Asset Management.
This story is from the December 21, 2024 edition of Hindustan Times Bengaluru.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 21, 2024 edition of Hindustan Times Bengaluru.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
NOT IN GERMANY; IT'S CHRISTMAS IN MUMBAI FOR SREEJITA AND MICHAEL
The actor and her husband are marking a shift from their usual Germany celebrations, as they embrace new traditions in India
Virat ne block kar diya hai mujhe Insta pe: Rahul Vaidya
Cricketer Virat Kohli has allegedly blocked singer Rahul Vaidya on Instagram.
Kohli, Smith and the Old Touch
Their place among the all-time batting greats is settled, but both will be keen to live up to their own lofty standards
'OTT has offered me the genres I wasn't getting previously'
This festive season, actor Tahir Raj Bhasin has more reasons to celebrate – his OTT series Yeh Kaali Kaali Ankhein (YKKA) Season 2 has been well-received, and the show is all set for a third outing.
Konstas to debut; Head, Rohit ready to go
Much of the intrigue on Tuesday centred around the fitness of two key figures on either side—Australia's Travid Head and India's Rohit Sharma.
Rohit's mantra: A personalised approach is key
Captaincy demands a mindset as varied as the individuals in the squad. You need to know when to be sympathetic and when to have a stern word or two. And can your attitude be the same with youngsters as it is with seniors?
INDIA GEAR UP FOR WOMEN'S T20 U-19 WORLD CUP TITLE DEFENCE
The chances of India defending the women's T20 U-19 World Cup, to be held in Malaysia from Jan 18 to Feb 2, though is quite high.
Harleen Deol, Pratika Rawal shine as India women clinch ODI series
It was a thoroughly dominant all-round performance from India yet again in this series as they defeated West Indies by 115 runs in the second women's ODI and took a 2-0 lead in the three-match series at the Kotambi Stadium, Vadodara on Tuesday.
India face Bangladesh in their CT opener, Pakistan on Feb 23
India will play Bangladesh on February 20 in their opening Group A game of the ICC Champions Trophy, to be played in Dubai as part of the hybrid model agreed for the tournament.
Paris heartache over, Chanu focuses on regaining fitness
Having overcome the agony of a 4th-place finish at Paris Games, the lifter has resumed training in Modinagar under national coach Vijay Sharma
