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Stock Market Opening Bell: Indian benchmark indices opened on a weak note on Thursday amid mixed trade across Asian markets, as investors digested the US Federal Reserve’s latest policy move and comments.

The BSE Sensex dropped 228 points or 0.27 per cent to 84,770, while the NSE Nifty50 slipped 81 points or 0.31 per cent to 25,973 in early deals.

Overnight, the US Federal Reserve lowered its benchmark interest rate by 25 basis points, bringing it to a range of 3.75–4 per cent. However, Fed Chair Jerome Powell’s remark that a further rate cut in December was “far from a foregone conclusion” dampened Wall Street sentiment and weighed on Asian markets this morning.

In the broader market, the Nifty MidCap index was largely flat, while the Nifty SmallCap index edged 0.15 per cent higher. Sectorally, Metal and Pharma stocks were under pressure, while selective buying was seen in FMCG and energy counters.

On the IPO front, Studds Accessories IPO (Mainline) opened for subscription today, while Orkla India IPO (Mainline) entered its second day. Meanwhile, Safecure Services IPO (SME) saw its Day 2, Game Changers IPO (SME) entered Day 3, and Jayesh Logistics IPO (SME) moved to its allotment phase.

Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate aff