- By Aditya Pratap Singh
- Thu, 19 Sep 2024 10:03 AM (IST)
- Source:JND
Stock Market: The domestic benchmark indices- BSE Sensex and Nifty 50- surged to hit new all-time highs in the opening hours following the announcement of US fed Rate cuts and gains in Asia-Pacific markets and Wall Street futures. Sensex, the index of the top 30 companies at BSE, was trading at 83,500, up 600 points or 0.7 per cent in the opening hours around 9:56 am, while the Nifty 50 was around 25,532, up 165 points or over 0.6 per cent.
The benchmark equity indices Sensex and Nifty hit new record highs after the US Federal Reserve cut benchmark interest rates after more than four years.
Large-cap stocks traded higher from 30 Sensex firms, with NTPC, Tata Motors, Axis Bank, Bharti Airtel, TCS, Tech Mahindra, Infosys, and HDFC Bank being the biggest gainers. Bajaj Finserv emerged as the sole laggard from the pack.
In Asian markets, Tokyo, Shanghai, and Hong Kong are up, while Seoul is down marginally. On Wednesday, U.S. markets ended lower. According to exchange data, foreign institutional investors purchased equities worth Rs 1,153.69 crore on Wednesday. On Wednesday, the benchmark BSE fell 131.43 points, or 0.16 per cent, to 82,948.23. The NSE Nifty also fell 41 points or 0.16 per cent to close at 25,377.55.
Rupees rises 6 paisa
The rupee rose 6 paise to 83.70 against the US dollar on Thursday, reflecting a positive investor sentiment after the US Federal Reserve decided to cut interest rates in line with market expectations. The Indian currency opened at 83.70 on the interbank foreign exchange market and rose to 83.70 against the greenback, registering a gain of 6 paise from its previous close.
The local unit rose 10 paise to 83.76 against the US dollar on Tuesday. The foreign exchange market was closed on Wednesday due to the bandh announced by the Maharashtra government.
Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, rose 0.46 per cent to 100.75.
