• Source:JND
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the benchmark BSE Sensex climbed 388 points to break through the 82,000 level in early trade after the US Federal Reserve signaled a rate cut by September, while the broader Nifty climbed 108 points to hit a record high of 25,000. The 30-share BSE Sensex rose 388.15 points, or 0.47 percent, to hit an all-time high of 82,129.49 points in early trade. The NSE broader Nifty climbed 127.15 points, or 0.50 percent, to 25,078.30, hitting a record 25,000 level for the first time.

Maruti rose 2.93 percent among Sensex shares following its excellent June quarter results. Adani Port, Power Grid, JSW Steel, and Tata Steel were also among the biggest gainers.

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Gains from index heavyweights HDFC Bank, Reliance Industries, and ICICI Bank helped the index reach new highs. On the other hand, M&M, Sun Pharma, ITC, Infosys, and TCS were among the losers, limiting the index's gains.

Indicating a rate cut by September, US Federal Reserve Chairman Jerome Powell said progress had been made toward lowering inflation to the 2 percent goal, marking the first time in four years that the Fed was moving toward a key rate cut in years.

In Asian markets, Tokyo, Shanghai, and Hong Kong traded in negative territory, while Seoul was in positive territory on Thursday. According to exchange data, foreign institutional investors sold equities worth Rs 3,462.36 crore in the capital markets on Wednesday.

The rupee gained one paise to 83.67 against the US dollar on Thursday after the Reserve Bank of India held rates but said a rate cut could be on the table in September.

The dollar fell slightly in overseas markets but gains for the rupee were capped by a further rise in Brent crude oil prices.
On the interbank foreign exchange market, the local currency opened at 83.67, a one paise gain from its previous close.
The rupee was trading in a narrow range of 83.67-83.69.

Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, fell 0.13 percent to 103.96. Brent crude oil, the global oil benchmark, rose 2.26 percent to $80.41 per barrel.

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(With PTI's Inputs)