Stock Market Updates: Sensex Jumps 150 Points, Nifty Near 25,300; BEL, Nestle Top Gainers
In the broader market, the Nifty MidCap index edged 0.18% higher, while the Nifty SmallCap index climbed 0.46%, indicating continued investor interest beyond frontline stocks.
India's economy continues to show resilience despite global headwinds, according to the Reserve Bank of India's latest 'State of the Economy' report. The central bank highlighted that a 100 basis point cut in the repo rate to 5.5 per cent since February, along with a phased 100 bps reduction in the Cash Reserve Ratio (CRR) from September 6, will inject around Rs 2.5 trillion into the system. This is expected to ease funding costs and improve credit transmission in the broader economy.
Global cues
Asia-Pacific markets opened on a mixed note Thursday, with investors keeping a close watch on the ongoing ceasefire developments between Israel and Iran. Last checked, Nikkei was up 0.98 per cent, while the broader Topix popped 0.48 per cent. The Kospi slipped 0.51 per cent, and aASX 200 was down 0.11 per cent.
US stock futures were largely unchanged. S&P 500, Nasdaq 100, and Dow Jones Industrial Average futures all hovered near the flatline.
On Capitol Hill, Federal Reserve Chair Jerome Powell maintained a cautious tone on inflation and tariffs during his second day of testimony. While not committing to a timeline for interest rate cuts, Powell reiterated that rate reductions could be considered if inflation proves to be transitory — a stance he also took during his earlier testimony before the House Financial Services Committee. This comes amid mounting pressure from President Donald Trump for the Fed to ease rates.
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