Indices hit record high on 50 bps rate cut by Fed; SENSEX zooms 700 pts, NIFTY tops 25,500; NTPC jumps 4%

At 09:20 AM, the S&P BSE SENSEX was trading 674 points, or 0.81% higher at 83,622.40 levels, while the NSE NIFTY was trading at 25,574.95 levels, up 197.40 points, or 0.78%.

Later, the indices extended gains. The 30-share index of the BSE was trading around 700 points higher.

Last seen, the market capitalisation of the BSE-listed companies stood at ₹468 lakh crore. 

IT stocks were trading with impressive gains after the US Federal Reserve announced a bigger rate cut last night. The BSE Information Technology index was trading 0.86% higher. Barring Oil & Gas index, all other sectors were trading in the green.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,153.69 crore on Wednesday, according to exchange data.

Top gainers and losers on the NSE

The top gainers on the NSE were NPTC, LTI Mindtree, Wipro, Tech Mahindra, and Infosys. The top losers on the exchange were ONGC, BPCL, and Shriram Finance. 

Broader Market

The BSE MidCap index was trading 0.62% higher at 49,157.90 levels while the BSE SmallCap index was ruling at 57,137.97, up 0.39%.

Global Markets

In Asian markets, Tokyo, Shanghai, and Hong Kong rallied, while Seoul quoted marginally lower. The US markets ended lower on Wednesday. In commodity markets, oil benchmark Brent crude dipped 0.07% to $73.60 a barrel.