Sensex, Nifty open at record highs following Fed rate cut, but economic slowdown concerns weigh
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BSE Sensex and NSE Nifty50 opened at record highs on Sep 19, 2024, up 1% after the Federal Reserve cut interest rates by 50 basis points to 4.75-5%. Sensex reached an intraday high of 83,773.61 but closed at 83,184.80, up 0.29%. Nifty50 hit a high of 25,611.95, finishing at 25,415.80, up 0.15%. Broader indices faced selling pressure, with Nifty Smallcap 100 down 1.26%. Chief Macro & Global Strategist Ankita Pathak noted the Fed's cut signals a slowing economy, projecting US unemployment to rise to 4.4%. Fed Chair Jerome Powell described the cut as a 'recalibration'. Analysts expect further rate cuts and a potential RBI rate cut in December 2024. Vodafone Idea dropped 19% after a Supreme Court ruling on AGR dues.

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https://www.newindianexpress.com/business/2024/Sep/19/sensex-nifty-open-at-record-highs-following-fed-rate-cut-but-economic-slowdown-concerns-weigh