The Sensex and the Nifty 50 ended higher for the third consecutive session on Thursday, September 18, tracking mixed global cues after the US Federal Reserve cut benchmark interest rates by 25 bps on expected lines and hinted there could be two more rate cuts this year.
The Sensex closed 320 points, or 0.39 per cent, up at 83,013.96, while the Nifty 50 ended the day at 25,423.60, up 93 points, or 0.37 per cent. The BSE Midcap index rose 0.36 per cent, while the Smallcap index ended flat.
The overall market capitalisation of BSE-listed firms stood at nearly ₹466 lakh crore, compared to about ₹465 lakh crore in the previous session.
Indian stock market: 10 key highlights from the day
1. Sensex, Nifty 50 end with modest gains
The Sensex and the Nifty 50 rose about half a per cent each during the session but ended with only modest gains, as the Fed rate cut had already been largely discounted and failed to boost market sentiment significantly.
Moreover, mixed signals about further rate cuts also offered little help.
While the market’s undertone remains positive due to healthy macro and expectations of earnings revival, the focus is on the ongoing trade talks between the US and India. A positive outcome is expected to drive the benchmarks out of the range they have been in since June.
(This is a developing story. Please check back for fresh updates.)
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