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Sensex Sinks, Nifty Breaks 25,900 as Fed Tempers Easing Bets and TrumpXi Offers Little Reassurance

Heavy foreign selling met buying support from domestic funds.

Overview

  • The Federal Reserve cut rates by 25 basis points but Chair Jerome Powell said another reduction in December is far from assured, cooling risk appetite.
  • India’s benchmarks closed lower, with the Sensex down 592.67 points to 84,404.46 and the Nifty 50 down 176.05 points to 25,877.85.
  • Exchange data showed Foreign Institutional Investors sold about Rs 2,540 crore on October 30, while Domestic Institutional Investors bought roughly Rs 5,693 crore.
  • Cautious trading followed the TrumpXi meeting in South Korea, where initial discussions failed to deliver the clear breakthrough investors had hoped for.
  • Regional tech themes stayed influential as South Korea’s KOSPI set fresh records earlier on reports of potential Nvidia supply ties and as Nvidia’s market value approached $5 trillion alongside strong Samsung earnings.