The Nifty 50 index opened at 25,406.65 points, gaining 50.15 points or 0.2 per cent, while the BSE Sensex surged 94.39 points at opening to 82,985.33 or 0.11 per cent.
As the date for the U.S. Federal Reserve's anticipated rate cut draws near (September 18), investors remain cautiously optimistic about its potential effects on various sectors.
American central bank US Federal Reserve will most likely cut key interest rates twice this year -- once this month and again in December, anticipates S&P Global Market Intelligence.
The Indian stock markets are on the brink of entering a new phase, marked by potential rate cuts from the U.S. Federal Reserve, highlighted a report by Nuvama.
The global shift towards gold as a hedge against macroeconomic risks is also being reflected in India. The uncertainty surrounding the US election and potential rate cuts has driven up demand for safe-haven assets like gold.
The price of gold, which opened in the low USD 2,300s in early July, quickly surpassed the USD 2,400 mark and achieved a high of USD 2,483 this Wednesday, according to Metals Focus report.
New York [USA], Aug 1 (ANI): The cut in US Fed funds rate is credit negative for American banks, applying renewed pressure on net interest margins (NIMs) and profitability that could stimulate further consolidation of the sector, Moody's Analytics said on Thursday.