Sensex, Nifty turn volatile at open amid US Fed rate cut
MUMBAI: Indian stock markets opened on a volatile note on Thursday, swinging between gains and losses even as the US Federal Reserve announced a 25-basis-point rate cut on Wednesday.
The Sensex, which began the day slightly higher, soon slipped into the red and was trading at 84,312 during early trade, down 79 points or 0.09 per cent. The Nifty also erased its early gains and inched down to 25,750, lower by 8 points or 0.03 per cent.
"From a technical standpoint, Nifty holds immediate support at 25,600–25,650, while the 25,850–25,900 zone continues to act as a strong resistance that has repeatedly halted upward momentum," analysts said.
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