Stock market today: Nifty50 ends above 25,400; BSE Sensex up over 300 points, closes above 83,000 on US Fed rate cut move

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied in trade on Thursday after the US Federal Reserve reduced its primary interest rate by 25 basis points and indicated potential for two more rate cuts this year.The NSE Nifty, consisting of 50 shares, rose 93.35 points or 0.37 per cent to 25,423.60. The BSE Sensex, comprising 30 shares, advanced 320.25 points or 0.39 per cent to finish at 83,013.96. During trading hours, it rose 447.5 points or 0.54 per cent to 83,141.21.Among Sensex companies, the notable gainers included Eternal, Sun Pharma, Infosys, HDFC Bank, HCL Tech, Hindustan Unilever, Power Grid, ITC and Adani Ports.Conversely, Tata Motors, Trent, Bajaj Finance and Asian Paints were amongst the decliners.In Asian trading, South Korea's Kospi and Japan's Nikkei 225 closed over 1 per cent higher, whilst Shanghai's SSE Composite and Hong Kong's Hang Seng ended more than 1 per cent lower.European markets showed significant gains. US markets concluded Wednesday with mixed results."On the global front, the US Fed's 25 bps rate cut lifted investor sentiment," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.Brent crude, the global oil benchmark, decreased 0.56 per cent to USD 67.57 per barrel.Foreign institutional investors (FIIs) sold equities worth Rs 1,124.54 crore on Wednesday following a brief pause, as per exchange data.On Wednesday, the Sensex increased by 313.02 points or 0.38 per cent to end at 82,693.71. The Nifty rose 91.15 points or 0.36 per cent to 25,330.25.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)