# Business

Sensex up 139 pts, Nifty above 11,540

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.

IANS | Mumbai | July 11, 2019 11:40 am

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.

At close, the Sensex was up 234.12 points or 0.30% at 78,199.11, and the Nifty was up 91.85 points or 0.39% at 23,707.90.

In its latest note, the US-headquartered investment bank sees 18 per cent base case upside for the BSE Sensex by the December end.

At close, the Sensex was down 720.60 points or 0.90 per cent at 79,223.11, and the Nifty was down 183.90 points or 0.76 per cent at 24,004.75.