On Thursday, Sensex closed at a record high, and the Nifty 50 saw gains, boosted by rising banking and consumer stocks, following the US central bank’s first monetary policy easing in four years.

The US Federal Reserve cut interest rates by 50 basis points on Wednesday to counteract a slowdown in the labour market.

Sensex gained 236.57 points, closing at 83,184.80, and the Nifty rose by 38.25 points to finish at 25,415.80. Both surpassing key levels of 83,700 and 25,600 for the first time.

Despite the positive market trend, midcap stocks struggled for the third consecutive session, with Vodafone Idea and BSE Ltd. among the top losers. The Nifty Bank closed at 53,037.60, driven by gains in HDFC Bank and Kotak Bank.

PSU stocks struggled, with the Nifty PSE index falling nearly 2%. Vodafone Idea saw its largest single-day drop since January 2022, falling 19% after the Supreme Court rejected its AGR dues plea. Indus Tower also declined significantly following the same ruling.

NTPC was a top gainer, rising over 2% after filing for an IPO for its green energy unit. BPCL fell more than 3% as Brent crude prices neared $75 per barrel, reflecting weaker global demand expectations.

The Indian rupee ended at 83.68 against the US dollar, up 0.1% from 83.75, reaching a two-month high of 83.57 during the session.

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