Stock Market Update: Sensex-Nifty fell heavily, prices of tech stocks also fell

Stock Market Update: The BSE Sensex and Nifty50 Indian stock indexes had a weak start in the day, ahead of the US Federal Reserve policy decision announcement.

At the start of trade, the BSE Sensex was down 75 points, or 0.09 percent to 83004, and the Nifty50 was also down 25 points, even as the loss was just 0.1 percent being 25393.

Worldwide Cues

After the S&P 500 and the Dow Jones index soared to record highs on Wall St., the Asia Pacific commenced fairly on Wednesday.

The all inclusive Topix expanded by 0.48 percent, with the Nikkei 225 of Japan appreciating by 0.74 percent. There was a slight decrease in the S & P/ASX 200 in Australia.

The Taiwan Weighted Index plunged to 0.35 percent and remained flat with picture made on CSI 300.

Both domestic markets in China will be closed after 3 days of vacation, but the markets in Korea and Hong Kong are still closed today.

In terms of that, it was almost a repeat of the July 19th reversals as all the US stock indexes ended only inches short of turning over Tuesday after hitting a record threshold, even as the dollar dividend changed little. Investors were prepared for what was expected to be the Federal Reserve’s first cut in interest rates in more than 4 years. The cut was the result of strong economic figures that shifted the focus from recession concerns to a rate cut.