Mumbai, Sep 18
The Indian equity indices extended the gaining momentum for the third consecutive session on Thursday amid buying in IT stocks after the US Fed announced a rate cut.
Sensex closed at 83,013.96, up 320.25 points or 0.39 per cent.
The 30-share index opened with a decent gap-up at 83,108.92 against the last session's closing of 82,693.71 after the US Fed announced a rate cut. However, the index remained range-bound throughout the session amid a mixed approach across sectors except IT.
Nifty ended the session at 25,423.60, up 93.35 points or 0.37 per cent.
"Global equities traded in the green after the U.S. Federal Reserve cut rates by 25 bps to 4–4.25 per cent and signalled two more reductions this year to cushion rising job market risks. Mirroring the upbeat global sentiment, Indian markets opened with a positive gap-up and maintained a sideways trajectory through the first half of the session," Ashika Institutional Equities said in a note.