Nifty IT Index Takes a Hit as US Fed Prepares for Rate Cut Pace Taper

In a session of intense market volatility, the Nifty IT index plummeted by over 3% on November 18, 2024, amidst expectations that the US Federal Reserve (Fed) is set to temper its pace of rate cuts.

The benchmark Indian stock market indices, which saw a rollercoaster ride in morning trades, were heavily influenced by the FOMC meeting announcement last evening. The Dow Jones and S&P futures witnessed significant downturns leading up to the US Fed decision, reflecting investor expectations that the central bank would reduce its forward interest rate cuts.

As shares of IT firms suffered losses, investors took a risk-off stance while waiting for further developments in the global economy.

Stay glued to Mint's live market blog as we bring you all the updates on this volatile trading session. This breaking news will keep you up-to-date with real-time analysis and insights on your favorite stocks and the latest economic indicators that impact the markets.

Market Updates (Latest as of now):

(Quotes, charts & analysis from major IT players, such as HCLTech, TCS, Infosys etc., available in our live blog)