US Federal Reserve


Dollar Drops Amid Bets On Rate Cuts, Geopolitical Tensions

Representational Image

Fed Chair Janet Yellen

The BSE index ended lower by 143.63 points, or 0.52 per cent, at 27,529.97, its lowest close since July 8. The NSE Nifty closed lower by 63 points, or 0.73 per cent, at 8,520.40. Intra-day, it shuttled between 8,615.40 and 8,506.15.

The market benchmark Sensex plunging over 439 points to close at a three-month low of 27,643.11 after a slew of global factors took a toll on the domestic markets. Nifty broke below the 8,600-mark to touch the session’s low of 8,541.35 and finally

The data report revealed that number of positions waiting to be filled dropped by 388,000 to 5.44 million (forecast was 5.80 million), from a revised 5.83 million in July, according to the Job Openings and Labor Turnover Survey.

Sensex fell 111.30 points or 0.39 per cent to 28,523.20. The wider NSE Nifty slipped below the 8,800-mark before settling 32.50 points or 0.37 per cent lower to 8,775.90 points. 

BSE Sensex gained over 35 points to 28,634.50 and NSE Nifty added 29 points to 8,808.40 points.

Forex analysts observe that foreign portfolio flows have continued to remain skewed towards the equity segment.

After losing 147.03 points in the last two sessions, Sensex on Thursday rebounded on fresh buying after minutes of the US Fed July meeting cooled rate hike expectations. 

Investors on Wednesday remained cautious amid indication that US Fed could raise rates as early as September.

BSE Sensex, NSE Nifty on Thursday surged for the second straight session on sustained foreign fund inflows and July derivatives expiry. 

The market barometer Sensex added 292.10 points or one percent and ended the session at 28,095.34, its highest closing level since August 10, 2015.