Sensex, Nifty Open Higher; IT Stocks Surge As Fed Cuts Interest Rates

(RTTNews) - Indian shares opened higher on Thursday amid optimism over ongoing U.S.-India trade talks.

The benchmark BSE Sensex was up 351 points, or 0.4 percent, at 83,045 in early trade, extending gains for a third consecutive session.

The broader NSE Nifty index edged up by 86 points, or 0.3 percent, to 25,416.

IT stocks traded higher, with Infosys rising 1.7 percent and HCL Technologies climbing 1.3 percent, after the U.S. Federal Reserve cut the benchmark lending rate by 25 basis points to a range of 4.00-4.25 percent and signaled two additional cuts in 2025.

Cochin Shipyard gained 1 percent on securing a Rs. 200 crore deal from ONGC for the repair of a jack-up rig.

Poonwalla Fincorp soared 10 percent after allotting 3.31 crore shares to its promoter, Rising Sun Holdings.

Dixon Technologies rose about 1 percent after it agreed to acquire a 51 percent stake in Kunshan Q Tech Microelectronics India for Rs. 552.99 crore.

Indosolar jumped 5 percent on news that promoter Waaree Energies plans to divest up to 61 lakh shares, representing a 14.66 percent stake the company through an offer-for-sale.

Hyundai India gained 1.2 percent after finalizing a three-year wage settlement with employees at its manufacturing plant near Chennai.

Biocon advanced 1.6 percent after its subsidiary Biocon Biologics received FDA approval for two drugs.

Yes Bank was marginally lower after Bandhan Bank and SBI offloaded their stakes in the bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC).