The Indian stock market opened lower on Thursday after the US Federal Reserve cut interest rates by 25 basis points. The Fed projected a lower rate cut in 2025, putting pressure on global markets.

Big fall in Sensex and Nifty

At 9:30 am, the Sensex was trading 1,023.67 points lower at 79,158.53 and the Nifty was down 306.45 points at 23,892.4. Banking, midcap and smallcap indices also remained in the red.

Asian markets also affected

In the Asian markets, Jakarta, Bangkok, Seoul, Japan, China and Hong Kong markets registered a decline. The impact of the sell-off in the US markets was also visible on the Asian markets.

Reasons for market sell-off

According to experts, the Fed's indication of a reduction in interest rate cuts for 2025 was contrary to market expectations. The markets needed a trigger on high valuations, which the Fed's warning provided.

Effect of FII and DII

Foreign institutional investors sold shares worth Rs 1,316.81 crore on December 18, while domestic investors bought shares worth Rs 4,084.08 crore. Experts believe that the fall may provide a buying opportunity.

Top Losers and Gainers

In the Sensex pack, stocks like Infosys, HCL Tech, Tata Steel were the top losers, while Hindustan Unilever and ITC were among the gainers.

Opportunities for investors

Experts say that there will be limited impact on the broader market. Investors can find good opportunities in growth stocks.