The Indian markets appeared bullish on Wednesday morning as investors awaited the rate cut decision from the US Fed. The BSE Sensex opened the session above 82,550, soaring about 180 points, while the NSE Nifty50 started trading just over 25,300, rising 66 points, around 9:15 AM.
In the pre-open session, the Sensex jumped over 100 points to inch closer to 82,500, and the Nifty tested 25,300, climbing 50 points, around 9:06 AM. Notably, the US Federal Reserve is scheduled to reveal the rate policy on Wednesday.
In the previous trading session, Indian equity benchmarks staged a strong rally, lifted by renewed optimism around the resumption of India-US trade talks and growing expectations of a US Federal Reserve rate cut.
The Sensex surged 594.95 points, or 0.73 per cent, to close at 82,380.69. The Nifty settled at 25,239.10, up 169.90 points, or 0.68 per cent.
“Auto and consumer durable stocks outperformed, ahead of the rollout of new GST rates and festive-driven demand expectations,” said Vinod Nair, Head of Research, Geojit Financial Services. He added that the positive momentum was supported by favourable global cues, with investors factoring in a 25 basis-point cut in the upcoming Fed policy decision alongside optimism over trade negotiations.
Analysts noted that investor focus will stay on trade discussions, while strong domestic fundamentals are likely to underpin earnings upgrades, providing valuation support and cushioning downside risks.
