The Indian stock market benchmark bourses Sensex and Nifty 50 opened higher in trade on Wednesday, October 29, amid a rally in Asian markets led by Japan's Nikkei ahead of the US Federal Reserve rate cut expected to be announced today.

The BSE Sensex rallied 0.03% to hit 84654.40, Nifty50 rose 0.18% to 25982, while Nifty Midcap 100 increased 0.12% to 59839.60 and Nifty Bank surged 0.18% to 58316.30.

Gift Nifty on Wednesday was trading around 26,136 level, signaling a premium of nearly 46 points from the Nifty futures’ previous close.

The three major US stock market indices also closed in green with Dow Jones Industrial Average gaining 0.34% to 47,706.37, S&P 500 closing at 0.23%, to 6,890.89, and the Nasdaq Composite ending at 0.8%, higher at 23,827.49.

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