Benchmark stock market indices opened on a positive note on Thursday, following gains in Asian markets. This came after the minutes from the latest Federal Reserve policy meeting boosted expectations of further US rate cuts, which may lead to increased foreign investments in emerging markets.
The S&P BSE Sensex added 110.95 points to 81,578.05, while the NSE NIfty50 gained 19.80 points to 25,001.75 as of 9:55 AM.
“The Indian equity markets experienced a decent uptick in buying activity, driven by stabilised global developments and a positive outlook from the previous trading session. However, in the second half, the momentum fizzled out, and the benchmark index once again faced a strong bout of sell-off from intraday highs and slipped below the psychological mark. Eventually, the index settled slightly below the 25000 mark, albeit on a subdued note,” said Sameet Chavan, Head Research, Technical and Derivative – Angel One.
