NIFTY IN DOLDRUM AS IT SEEN SLIPPING OVER 3% DUE TO EXPECTED RATE CUTS BY US FEDERAL RESERVE

Mumbai, November 18, 2024 - 12:54 IST

The Nifty IT index plummeted by over 3% in the morning trading session on a global economic backdrop. Investors are bracing themselves for a potential slowdown in the pace of rate cuts by the US Federal Reserve, citing concerns about inflation.

According to market analysts, the anticipated reduction in interest rates by the US Fed has led to a sell-off in the Indian stock markets. The Nifty 50 index is currently trading at 17,414 points, down over 2% from its previous close.

Investors are taking a cautious stance on major IT firms such as Infosys, TCS, and HCL Technologies, which have been among the top gainers in recent times. The current volatility has investors choosing a 'wait-and-watch' approach before making any significant investment decisions.

The US Federal Reserve is expected to announce its policy decision later today, which may provide clarity on the anticipated pace of rate cuts.

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