The Indian markets looked set for a robust trading day on Thursday. The BSE Sensex opened the session at 83,040, soaring almost 350 points, while the NSE Nifty50 began the day at 25,421.35, rising 91 points.
Notably, the US Fed opted to slash key interest rates by 25 basis points on Wednesday. This helped boost optimism in the market, however, analysts hoped for a 50 bps cut from the regulator.
The GIFT Nifty also surged more than 50 points to cross 25,300 today morning before markets opened. In the pre-open session, the Sensex soared close to 400 points to cross 83K, as the Nifty jumped over 50 points to inch closer to 25,400, around 9:02 AM.
Indian equity benchmarks extended gains for the second straight session on Wednesday, supported by firm buying in IT, banking and auto stocks as investors cheered progress in trade talks between India and the United States. The Sensex climbed 313.02 points, or 0.38 per cent, to close at 82,693.71 after touching an intraday high of 82,741.95, up 361.26 points. The Nifty advanced 91.15 points, or 0.36 per cent, to settle at 25,330.25.
The Commerce Ministry said discussions with the US delegation were “positive,” with both sides agreeing to intensify efforts to conclude a “mutually beneficial” agreement at the earliest. Nifty extended its bullish momentum today, opening positive and holding firm within the 25,300 zone throughout the session, reflecting strong underlying sentiment.
