Share Market Live Updates 19 Sep: Domestic equity benchmark indices, Sensex and Nifty 50 are expected to open higher on Thursday after the US Federal Reserve announced a bigger-than-expected interest rate cut. As Asian markets traded higher, US stocks closed slightly lower.
Reuters reported that markets are now fully pricing in a rate cut of at least 25 basis points at the Fed’s November meeting, with about a 35% chance for a 50 basis point cut. Indian stock markets closed lower on Wednesday amid cautious sentiment ahead of the US Fed monetary policy meeting. The Sensex closed 131.43 points or 0.16% lower at 82,948.23, while the Nifty 50 closed 41.00 points or 0.16% lower at 25,377.55.
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Asian Markets: Asian markets traded higher on Thursday, led by Japan’s Nikkei’s rise after the US Federal Reserve cut interest rates. Nikkei rose 2.1%, while Topix rose 1.9%. South Korea’s Kospi rose 0.57% and Kosdaq rose nearly 1%.
GIFT Nifty: GIFT Nifty was trading around 25,400 levels, with a premium of around 30 points over the previous close of Nifty futures, indicating a positive opening for the Indian stock market.
Also read: What will be the impact of US Fed’s interest rate cut on India?
Wall Street: US stock markets closed marginally lower on Wednesday after the US Federal Reserve cut interest rates. The Dow Jones Industrial Average fell 103.08 points or 0.25% to close at 41,503.10, while the S&P 500 fell 16.32 points or 0.29% to 5,618.26. The Nasdaq Composite lost 54.76 points to close at 17,573.30.
US Fed Rate Cut: The US Federal Reserve has cut the benchmark interest rate by 50 basis points (BPS) from the range of 4.75% to 5.00% to a range of 5.25% to 5.5%.
