MUMBAI: Indian benchmark shares closed higher on Thursday in a broad-based rebound after the Federal Reserve’s 25-basis-point rate cut, following a three-session slide, even as the rupee slumped to a record low on worries over the lack of a US trade deal.
The Nifty 50 rose 0.55 percent to 25,898.55 while the BSE Sensex gained 0.51 percent to 84,818.13.
Both benchmarks had lost about 1.6 percent each in the last three sessions.
On the day, fifteen of the 16 major sectors advanced. The broader small-caps and mid-caps rose 0.8 percent and 1 percent.
Financials and information technology gained 0.6 percent and 0.8 percent, after losing 1.7 percent and 2.4 percent, respectively in the last three sessions.
Metals gained 1.1 percent, tracking firmer metal prices due to a weakening US dollar after the Fed rate cut.
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