Sensex, Nifty Climb After Bumper Fed Rate Cut
(RTTNews) - Indian shares opened on a buoyant note Thursday after the U.S. Federal Reserve announced a whopping 50 bps rate cut and signaled further policy easing to keep the labor market from slowing too much.
The benchmark S&P/BSE Sensex jumped 533 points, or 0.6 percent, to 83,481 in early trade while the broader NSE Nifty index was up 145 points, or 0.6 percent, at 25,522. Among the top gainers, Grasim, Tata Consumer Products, Bajaj Auto and NTPC climbed 2-3 percent.
IREDA rose nearly 2 percent after it received approval to raise Rs. 4,500 crores via a QIP issue.
Reliance Industries gained half a percent after Jio announced 'Diwali Dhamaka' offer with 1 year of free AirFiber subscription.
Tata Power added 1.2 percent after its renewable energy arm bagged a 400-MW hybrid project in Maharashtra.
Aditya Birla Capital rallied 2.1 percent. The company has received 'no objection' from RBI for the scheme of amalgamation of Aditya Birla Finance Ltd, a wholly owned subsidiary, with itself.
Reliance Power jumped 5 percent on fund raising reports.
REC declined 2.5 percent after signing pacts worth Rs 1.12 lakh crore with renewable energy developers for projects over five years.
ICICI Securities rose half a percent. Quantum Mutual Fund has filed an appeal against NCLAT order approving delisting of the company.
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