Benchmark indices BSE Sensex and Nifty 50 opened on a positive note on Thursday, following indications of at least one rate cut during this year by the US Federal Reserve, according to the central bank’s latest minutes released on Wednesday.
At opening bell, the 30-stock BSE Sensex was up 191.35 points, or 0.24 per cent, to 81,096.65, while the Nifty 50 had climbed 62.25 points, or 0.25 per cent, to 24,832.45.
Global Cues
Overnight, the US market closed up following the release of the minutes of the latest US Federal Relserve meeting held on July 30 and 31.
The Dow Jones Industrial Average rose 0.14 per cent, to 40,890.49, the S&P 500 gained 0.42 per cent, to 5,620.85 and the Nasdaq Composite, opens new tab added 0.57 per cent, to 17,918.99.
Asian stocks edged higher ahead of key events from the Federal Reserve and the Bank of Japan that will help define the global rates trajectory.
The MSCI Asia Pacific Index climbed 0.2% as benchmarks in Japan, Australia and South Korea rose. That came after the S&P 500 and Nasdaq 100 indexes advanced on further signs the Fed will cut interest rates.
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