The euphoria of the equity markets at Wall Street appears to spread across the board, travelling past oceans to drench Indian indices in green.
Sensex and Nifty Life Highs
The Indian markets scaled record heights on the last trading day of the week. Both the Sensex and the NSE Nifty went past their lifehigh marks. The second consecutive trading session, when such a development has come to pass.
With the surge, Sensex went past the 84K mark. At the time of writing, Sensex was at 84,375.38, up by 1190.58 points or 1.43 per cent, and Nifty stood at 25,770.05, up by 354.25 points or 1.39 per cent.
Nifty Bank also chimed into the green fest at Dalal Street. The banking index stood scaled to reach 53,652.30, also up by 614.70 points or 1.16 per cent.
Gainers And Losers
From the Sensex pack, Mahindra & Mahindra, JSW Steel, Adani Ports and Bharti Airtel were among the major gainers at the time of writing. When it comes to losers, TCS, NTPC and SBI lagged with marginal decline.
From the Nifty tranche, Eicher Motors, Coal India and once again Adani Ports were among the gainers, while Grasim and TCS were among the losers.
The Indian rupee stood at 83.54 against the dollar.
The United States Federal Reserve, led by chair Jerome Powell in a landmark decision, cut the benchmark interest rates in the largest economy of the world for the first time since the pandemic year. This cut as mentioned before, was the first since 2020.
US Fed Cuts Rates
The United States Federal Reserve, led by chair Jerome Powell in a landmark decision, cut the benchmark interest rates in the largest economy of the world for the first time since the pandemic year. This cut as mentioned before, was the first since 2020.
The nature of the cuts was also a topic of discussion, as cuts were much bigger in size than what was anticipated by analysts. The US Fed cut interest rates by a mammoth 50 basis points. This took the interest rate to 4.75 per cent to 5.00 per cent.
This took the US equity market on a bullish spree, as, on September 19, the marquee indices, including Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all ended the day’s trade with bumper gains.
