Markets opened marginally higher on Thursday after the US Federal Reserve delivered a 25 basis points rate cut, lowering the policy rate to 3.50–3.75 per cent, but early gains faded as rupee weakness and trade concerns weighed on investor sentiment. The Sensex, which closed at 84,391.27 on Wednesday, opened at 84,456.75 and was trading at 84,559.15 at 10:16 IST, up 167.88 points or 0.20 per cent. The Nifty moved from its previous close of 25,758 to 25,809.30, gaining 51.30 points or 0.20 per cent.

“The Fed has delivered a quarter-point rate cut, marking its third reduction this year and taking the policy rate to the lowest level in over three years,” said Rajesh Palviya, SVP - Research at Axis Securities. “The move signals that concerns over slowing growth and labour-market softness now

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