Mkts rise for 3rd day on US Fed rate cut

Stock markets advanced for the third consecutive day on Thursday, with the benchmark Sensex gaining 320 points to close above 83,000 level after the US Federal Reserve cut its key interest rate by 25 basis points and signalled the possibility of two additional rate reductions this year.

- PTI

The 30-share BSE Sensex rallied 320.25 points or 0.39 per cent to settle at 83,013.96. During the day, it jumped 447.5 points or 0.54 per cent to 83,141.21.

The 50-share NSE Nifty climbed 93.35 points or 0.37 per cent to 25,423.60.

Shares of pharma, IT and financial companies edged higher while realty and energy stocks ended on a muted note.