Stock market today: Domestic indices hit a record high at the opening on Thursday, September 19, following a 50 basis point (bps) interest rate cut by the US Federal Reserve, bringing rates down to the 4.75%–5.0% range. This marked the first rate cut in four years and signaled a shift in monetary policy.
At 9:20 AM, the S&P BSE SENSEX surged by 674 points or 0.81% to 83,622.40, while the NSE NIFTY rose by 197.40 points or 0.78%, reaching 25,574.95. As trading progressed, the SENSEX extended its gains, rising by around 700 points. Among the 30 SENSEX stocks, 29 were trading in the green, with NTPC leading the gains, followed by Axis Bank and Tata Motors.
IT stocks gained momentum following the Fed’s rate cut, pushing the BSE Information Technology index up by 0.86%. Most sectors were trading positively, except for the Oil & Gas index. Foreign Institutional Investors (FIIs) bought ₹1,153.69 crore worth of equities on Wednesday.
On the NSE, NTPC, LTI Mindtree, Wipro, Tech Mahindra, and Infosys were top gainers, while ONGC, BPCL, and Shriram Finance saw declines. In the broader market, the BSE MidCap index was up 0.62% and the SmallCap index rose by 0.39%.
Globally, Tokyo, Shanghai, and Hong Kong markets rallied, while Seoul saw a marginal dip. US markets closed lower, and Brent crude dipped slightly to $73.60 per barrel.
