Sensex Opening Bell: Market shines after Fed’s decision; Sensex rises 700 points, Nifty crosses 25500 for first time
New Delhi| The decision by the US central bank Federal Reserve to cut policy interest rates by 50 basis points has gone down well with the domestic stock market. After the Fed’s decision, major Indian benchmark indices BSE Sensex and NSE Nifty registered strong gains. The 30-share Sensex climbed more than 700 points in early trade. On the other hand, Nifty also managed to cross the 25,500 level for the first time.
Shares of banking and IT sectors showed strength after the Fed cut interest rates. Shares of NTPC, LTI Mindtree and Wipro were seen trading as top gainers of Nifty. These increased by about two percent. Strength in shares of HDFC Bank and Infosys contributed the most to Sensex and Nifty. The market cap of companies listed on BSE increased by Rs 2.5 lakh crore to Rs 470 lakh crore during Thursday’s trading session.
Talking about benchmark indices of different sectors, shares of Nifty Bank, Nifty IT and Nifty Realty rose more than one percent. Shares of NTPP climbed 3%. The surge came after NTPC Green Energy filed a draft paper for a Rs 10,000 crore IPO. IREDA’s share also strengthened by 3% after the government announced the raising of funds through QIP.
