The domestic equity benchmarks concluded a volatile trading session with modest gains on Thursday. The market was buoyed by the US Federal Reserve’s decision to cut interest rates by 50 basis points and its indication of further rate reductions. However, the substantial rate cut also sparked concerns about a potential global slowdown, leading to profit booking in mid-cap and small-cap stocks. The Nifty50 settled above the 25,400 level. Private banks and FMCG stocks were among the top performers, while media, energy, and public sector banks witnessed selling pressure. The volatility in the market was further amplified by the weekly expiry of futures and options contracts.
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