Sensex & Nifty Open With All-Time High Numbers After US Fed Reserve Cuts Rates After 4 Years

After a landmark move from the US Federal Reserve, which saw a cut in its benchmark interest rates for the first time in 4 years, since 2020, the Indian markets have reacted to the development positively.

The Indian markets opened flat on Thursday, September 19, with Sensex at 83,617.46, up by 669.23 points or 0.81 per cent, and Nifty at 25,574.95, up by 197.40 points or 0.78 per cent.

Nifty Bank in the morning session was trading low at 53,278.65, also up by 528.25 points or 1.00 per cent.

The marquee indices crossed lifehighs, setting new records in the early hours of the day's trade.

Gainers And Losers

From the Sensex pack, NTPC, Tech Mahindra, Infosys, TCS and Bajaj Finance were among the major gainers in the morning session.

From the Nifty tranche, LTIM, Wipro and Tech Mahindra were amongst the gainers, while L&T, ONGC and BPCL were among the losers.

The Indian rupee opened at 83.70 against the dollar.

Markets on Wednesday

The stock markets ended Wednesday on a lower note for both the BSE Sensex and the NSE Nifty. This came to pass, after the indices touched life-high marks, individually.

The 30-share BSE Sensex closed the day at 82,948.23, 0.16 per cent or 131.43 points lower. Similarly, the NSE Nifty ended in red, declining by 41.00 points or 0.16 per cent, closing at 25,377.55.

Gainers and Losers

Amongst the gainers, Bajaj Finance, Bajaj Finserv gained over 2 per cent. Nestle also made major gains.

Major tech stocks including, TCS, Infosys and HCL Tech were the biggest losers with an average decline of over 3 per cent.

Energy and International Markets

U.S. West Texas Intermediate crude (WTI) decreased by 0.63 per cent to USD 70.46 a barrel at 07:52 IST. Brent crude prices also declined by 0.46 per cent to USD 73.31 a barrel at 07:52 IST.

On Wednesday, despite the much awaited rate cut by the US Federal, both S&P 500 and Nasdaq saw a collective slump in their numbers, meanwhile, Dow Jones Industrial Average also saw a dip in its value.

The S&P 500 closed at 5,618.26, losing 0.29 per cent. The Dow Jones Industrial Average ended at 41,503.10, shedding 0.25 per cent of its value.

Additionally, the Nasdaq Composite saw a decline of 0.31 per cent to reach 17,573.30.

The Asian indices started in Green, while Japan's Nikkei 225 index gained mammoth 2.60 per cent to reach 37,326.42, at the opening of the day's trade. Hong Kong’s Hang Seng index rose by 1.07 per cent to jump to 17,848.29 points. South Korea’s KOSPI however observed a decline, as it slipped by 0.56 per cent to reach 2,560.86. Finally, Taiwan's TAIEX gained 0.99 to rise to 21,893.13 points.