MARKET LIVE: Sensex, Nifty near day’s high; IndusInd Bank top gainer

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Benchmark indices were trading  near day’s high Thursday’s afternoon trade after Federal Reserve Chairman Jerome Powell hinted at a possible rate cut later this month.

In an appearance before his Congressional overseers on Wednesday, Powell confirmed that the US economy is still under threat and that the central bank stands ready to “act as appropriate”.

The benchmark S&P BSE Sensex rose 196 points, or 0.5 per cent, to 38,747, with IndusInd Bank, Hero MotoCorp, State Bank of India, Powergrid, and HDFC among the top gainers. The broader Nifty50 index added 60 points, or 0.5 per cent, to 11,559.

All the Nifty sectoral indices were trading in the green. Nifty Realty index gained 1.4 per cent while Nifty Pharma was up 1 per cent.

In the broader market, the S&P BSE MidCap index added 46 points, or 0.3 per cent, to 14,461, while the S&P BSE SmallCap index climbed 9 points, or 0.07 per cent, to 13,708.


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