Nifty slips to 24,050 as markets pause after Fed signal
Business
Indian stock markets took a breather on Thursday after four days of gains, as the Nifty 50 slipped to 24,050.
The drop came after the US Federal Reserve signaled it might raise interest rates later this year.
Even with this news, market volatility eased a bit and most stocks on NSE actually moved up.
Indian IT heavyweights fall amid resilience
Big tech names like Infosys, HCL Tech, Tech Mahindra, and TCS lost between 1% and 2.5%, weighing on the main indexes.
Meanwhile, Trent, BEL, and L&T managed small gains around 1%.
Interestingly, midcap and smallcap stocks rose up to 0.3%, showing that broader markets stayed resilient despite global worries about rate hikes.