Sensex, Nifty slump in early trade as US Fed indicates fewer rate cuts next year

MUMBAI: Benchmark indices Sensex and Nifty slumped in early trade on Thursday following weak global market trends after the US Federal Reserve indicated fewer rate cuts next year.

The 30-share BSE benchmark Sensex tanked 1,162.12 points to 79,020.08 in early trade. The NSE Nifty tumbled 328.55 points to 23,870.30.

All the 30 blue-chip stocks were trading lower. Infosys, State Bank of India, Tata Steel, Asian Paints, JSW Steel, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra were the biggest laggards.