Sensex, Nifty Open Higher After Fed Rate Cut

Indian stock benchmarks Sensex and Nifty opened marginally higher on Thursday, buoyed by positive global cues following the US Federal Reserve's 25-basis-point interest rate cut overnight. The BSE Sensex rose 50.78 points, or 0.06 percent, to 84,442.05 in early trade, while the NSE Nifty climbed 21.05 points, or 0.08 percent, to 25,779.05.

This modest uptick came after a rebound in the previous session on Wednesday, when the indices recovered from two days of sharp declines driven by caution ahead of the Fed's policy decision. On Wednesday, the Sensex advanced 259.31 points, or 0.31 percent, to 84,925.59 in early trading, and the Nifty gained 64.65 points, or 0.25 percent, to 25,904.30. Value buying at lower levels supported the recovery, with gainers among Sensex stocks including Adani Ports, Tata Steel, Mahindra and Mahindra, and Reliance Industries. However, some counters like Eternal and Sun Pharmaceuticals lagged.

The earlier downturn began on Monday, when the Sensex plunged 609.69 points, or 0.71 percent, to close at 85,102.69, and the Nifty fell 225.90 points, or 0.86 percent, to 25,960.55. The slide deepened on Tuesday amid weak global sentiment and uncertainty over the...