Stock Market Today: Indian stock markets opened at new all-time highs on Thursday. This is boosted by the U.S. Federal Reserve’s decision to cut interest rates by 50 basis points. At the start of trading, the BSE Sensex was at a record 83,389, up 441 points or 0.53 per cent.
The Nifty 50 also reached a new high, standing at 25,542, up 165 points or 0.65 per cent. This positive momentum followed gains in Asia-Pacific markets and strong Wall Street futures. However, Indian benchmarks had a mixed performance on Wednesday.
Stock Market Yesterday
Both the BSE Sensex and Nifty 50 ended the day lower after reaching record highs earlier. The Sensex closed at 82,948.23, down 131.43 points or 0.16 per cent, while the Nifty 50 ended at 25,377.55, down 41 points or 0.16 per cent.
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In the lead-up to the Fed's announcement, Indian technology stocks experienced a sharp decline. The Nifty IT Index fell by 3.1 per cent to 42,089, marking its largest drop since early August. Major IT firms such as Mphasis, TCS, L&T Technology Services, Persistent Systems, Infosys, and HCLTech all saw significant losses, with Mphasis dropping 5.6 per cent and TCS falling 3.5 per cent.
Meanwhile, markets in the Asia-Pacific region were also rising, with Japan’s Nikkei 225 and Topix both up around 2 per cent. In Hong Kong, the Hang Seng index futures pointed to a flat opening, as the market returned from a public holiday on Wednesday.
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