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Markets Open Higher As Powell Raises Rate Cut Hopes


Indian benchmark indices opened the day higher, as US Federal Reserve Chairman, Jerome Powell, raised hopes of an interest rate cut.

The Sensex opened the day higher by 150 points, while the Nifty gained 44 points in trade. Shares in DHFL was marginally up after reports that banks will provide further loans to Dewan Housing Finance (DHFL) only if promoters of the company were to pledge their shares as collateral.

Markets Open Higher As Powell Raises Rate Cut Hopes

Shares in Interglobe Aviation (Indigo), which fell 11 per cent on Wednesday moved lower once again, despite one of the promoter group saying all related party deals were done at arms length. The company's shares were last seen trading at Rs 1379, down 1.5 per cent.

Shares in GTPL Hathway surged after the company reported a 100 per cent year-on-year jump in consolidated net profits. The shares were last seen trading at Rs 60.85, a jump of 13 per cent.

Shares in Karnataka Bank were trading higher, a day ahead of results to be announced on Friday. Auto stocks like Maruti and Hero Motor corp, which saw sharp falls on Wednesday, recovered in trade today.

Meanwhile, most Asian markets were trading higher, led by gains in the Hong Kong's Hang Sang and the Japanese Nikkei.

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