Overview
- The US Federal Reserve cut rates by 25 basis points to 3.50%–3.75%, lifting global sentiment and pushing GIFT Nifty futures up roughly 89–131 points ahead of the open.
- Nifty opened near 25,771 and briefly touched about 25,803 before slipping back, echoing a choppy Sensex start after three straight sessions of declines.
- Technicians flagged immediate Nifty support at 25,600–25,650 and stiff resistance at 25,850–25,900, with a break below 25,700 risking a move toward 25,500–25,300.
- Provisional NSE data for Wednesday showed foreign portfolio investors as net sellers by about Rs 1,651 crore, while domestic institutional investors bought roughly Rs 3,752 crore.
- Analysts advised a selective buy-on-dips approach with tight stop-losses, as broker commentary stays cautiously constructive on the medium-term path for the index.