Mumbai, Sep 18 || The Indian benchmark indices opened higher on Thursday, on the back of positive global cues as the US Federal Reserve eased rates by 25 bps.
As of 9.24 am, the Sensex was up 347 points or 0.42 per cent at 83,041, and the Nifty was up 89 points or 0.35 per cent at 25,419.
The Federal Reserve resumed interest rates cut cycle by reducing rates by 25 basis points to a target range of 4.0-4.25 per cent, citing shifting risk dynamics in the economy. Fed officials projected two additional rate cuts this year, forecasting rates to reach 3.50-3.75 per cent by the end of 2025.
The rate cuts were anticipated as concerns intensified over weak labour market data and high inflation.
The broad cap indices Nifty Midcap 100 inched up by 0.08 per cent, and the Nifty Small cap 100 jumped 0.68 per cent.