The Indian market saw a widespread decline on Thursday following a global sell-off driven by the US Fed’s hawkish stance on interest rates.

GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 62.5 points, or 0.26 per cent, at 23,944.50, signaling that Dalal Street was headed for negative start on Friday.

US stocks end little changed

U.S. stocks ended little changed on Thursday, giving up an initial rebound from a sharp drop in the prior session after the Federal Reserve forecast fewer-than-expected interest rate cuts and higher inflation next year.

Dow up 0.04%,

S&P down 0.09%,

Nasdaq off 0.10%

Asian stocks mixed

Asian stocks traded in a tight range early Friday, after the Federal Reserve’s hawkish pivot continued to weigh on US equities and bonds but lifted the dollar.

S&P 500 futures were little changed as of 8:08 a.m. Tokyo time

Nikkei 225 futures fell 0.2%

Hang Seng futures fell 0.3%

Australia’s S&P/ASX 200 fell 0.4%

Gold slips

Gold prices were poised for a weekly fall on Friday after the Federal Reserve's verdict on its monetary policy-easing cycle noted a slowdown in cuts, while market focus shifted to the U.S. Personal Consumption Expenditure data due later in the day.

Rupee

The rupee dropped 14 paise and breached the crucial 85 level to close at an all-time low of 85.08 (provisional) against the US dollar on Thursday, as a hawkish stance from the US Federal Reserve sparked a broad dollar rally.

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