Markets rise on Fed rate cut, Nifty hits all-time high

DOMESTIC equity market benchmarks - BSE Sensex and NSE Nifty50-opened on Thursday at a record high level, up 1% each from the previous session closing, after the Federal Reserve decided to lower interest rates by 50 basis points (bps).

- ARSHAD KHAN

The market, however, failed to sustain the momentum and gave up much of the gain over growing economic slowdown concerns in the US.