India's equity benchmarks to open higher after Fed rate cut

(Reuters) -India’s equity benchmarks are expected to open higher on Thursday after the U.S. Federal Reserve cut interest rates by a quarter point in a bid to halt any slide in the labour market in the world’s largest economy.

Gift Nifty futures were trading at 25,520.5 points as of 08:10 a.m. IST, indicating that the benchmark Nifty 50 will open above the two-month high of 25,330.25 hit on Wednesday.

The Fed on Wednesday lowered rates for the first time this year to address the weakness emerging in the labour market.

However, Fed Chair Jerome Powell tempered the more aggressive easing expectations in markets, saying Wednesday’s move was a risk-management cut and that the central bank does not need to move quickly on rates.

Lower U.S. interest rates make emerging markets like India attr