Sensex up 139 pts, Nifty above 11,540
Mumbai, July 11 (IANS) The Sensex and Nifty opened higher on Thursday after US Federal Reserve Chairman Jerome Powell hinted at a rate cut.
Earlier, owing to strong job data from the US had faded hope of an aggressive rate cut. Analysts said that a rate cut was positive for the emerging markets like India.
At 10.08 a.m., the Sensex was trading 138.50 points higher at 38,695.54 from it’s previous close of 38,557.04. Sensex opened higher at 38,751.62.
The broader Nifty was up 49.90 points or 0.43 per cent to 11,548.80. IndiGo stocks were trading with heavy selling pressure for the second day after the rift between the promoters came out in the open.
The scrips of the largest private airline, on the NSE, traded 8.35 per cent lower at 1,281.25 apiece.