India stock markets slip as Fed hints cut may be last this year

Indian shares declined after the Federal Reserve’s 25-basis-point rate cut raised doubts about further easing in 2025. Both the Nifty 50 and BSE Sensex fell about 0.4%, led by a 1.1% drop in pharmaceuticals following news that Dr. Reddy’s Laboratories received a Canadian regulatory notice. Market participants cited increased volatility expectations as the Fed flagged limited data due to the U.S. government shutdown. Meanwhile, traders await details from the meeting between Donald Trump and Xi Jinping in South Korea.