Overview

• The Federal Reserve’s 25-basis-point rate cut helped the S&P 500, Nasdaq and Dow close at record highs, with small-caps joining as the Russell 2000 set a new peak.
• Nvidia said it would invest $5 billion in Intel as part of a collaboration on data-center and PC products, sending Intel up 22.8% and lifting semiconductor stocks.
• Indian benchmarks snapped a three-day winning streak as the Sensex fell 387.73 points to 82,626.23 and the Nifty 50 lost 96.55 points to 25,327.05 on profit-taking.
• Adani group stocks jumped as much as about 13% after the regulator cleared the conglomerate of Hindenburg’s stock-manipulation allegations, with multiple Adani counters rallying sharply.
• Provisional NSE data showed FIIs net bought Rs 366.69 crore and DIIs bought Rs 3,326.56 crore, Asian markets traded mixed, and oil hovered in the mid-$60s per barrel.