Stock Market Today: Sensex Settles At 83,185, Nifty Above 25,400 Amid Fed Rate Cut

Stock Market Today: NTPC, Kotak Mahindra Bank, Titan Company, Nestlé India, and Hindustan Unilever were among the top gainers on the BSE Sensex

Stock Market Today: On Thursday, the Indian rupee reached a two-month high, supported by anticipated portfolio inflows and a surge in the Chinese yuan

Source : PTI

Stock Market Today: Indian benchmark equity indices closed on a strong note on Thursday trade, with the Nifty hovering around 25,400. Gains in the banking, FMCG, and real estate sectors pushed the index up in the trading session. In addition, the Federal Reserve's more significant-than-expected rate cut boosted global stocks, leading to record highs for India’s benchmark equity indices. 

At the end of trading, the Sensex was up by 236.57 points, or 0.29 per cent, to settle at 83,184.80. Meanwhile, the Nifty increased by 38.25 points, or 0.15 per cent, to settle at 25,415.80.

NTPC, Kotak Mahindra Bank, Titan Company, Nestlé India, and Hindustan Unilever were among the top gainers on the BSE Sensex. The losers included Adani Ports, L&T, TCS, JSW Steel and HCL Tech.

Sectorial Update

In terms of sector performance, the auto, banking, real estate, and FMCG indices rose around 0.5 per cent. Conversely, sectors such as capital goods, IT, pharmaceuticals, oil and gas, media, metals, and telecommunications experienced declines ranging from 0.5 to 3.5 per cent.

Mid and small-cap stocks faced significant losses during Thursday's trading session. The Nifty Midcap 100 index fell by 0.71 per cent, dropping below the 60,000 mark to close at 59,351 points. At its lowest, the index had declined by 2.3 per cent but recovered somewhat by the end of the day. Similarly, the Nifty SmallCap 100 index fared worse, finishing the session down 1.26 per cent at 19,144 points.

Rupee Movement

On Thursday, the Indian rupee reached a two-month high, supported by anticipated portfolio inflows and a surge in the Chinese yuan following the Federal Reserve's decision to cut interest rates by 50 basis points.

The rupee closed at 83.68 against the US dollar, rising 0.1 per cent from its previous close of 83.75. During the session, it reached a high of 83.57, marking its strongest level since July 18.