Sensex, Nifty Extend Gains For Third Day
(RTTNews) - Indian shares rose for a third consecutive session on Thursday as optimism prevailed over ongoing U.S.-India trade talks and the U.S. Federal Reserve delivered its first rate cut this year, citing recent sluggishness in the labor market.
After months of speculation, the U.S. central bank on Wednesday cut interest rates by 25 basis points to a new range of 4.00-4.25 percent, marking the Fed's first rate cut since December 2024.
The Fed also signaled two more rate cuts of 25 bps each (one likely in October, another in December) unless some data disappoints.
The benchmark BSE Sensex rose 320.25 points, or 0.39 percent, to 83,013.96, extending gains for a third day running.
The broader NSE Nifty index settled up 93.35 points, or 0.37 percent, at 25,423.60.
The BSE mid-cap index gained 0.4 percent, but the small-cap index finished marginally lower.
The market breadth was strong on the BSE, with 2,191 shares rising while 1,987 shares declined and 164 shares closed unchanged.
HCL Technologies, HDFC Bank, Infosys, Sun Pharma and Eternal climbed 1-3 percent while Bajaj Finance, Trent and Tata Motors all fell around 1 percent.
Hyundai Motor India jumped 2.6 percent after finalizing a three-year wage settlement with employees at its manufacturing plant near Chennai.
SEPC soared 8.3 percent on securing a Rs 442 crore order from the Water Resources Department in Delhi.
Cohance Lifesciences plunged 5.5 percent after Jusmiral Holdings sold 8.9 percent stake in the company via a block deal.
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