For the second day, the BSE index sensex and the NSE index nifty, surged
| Photo Credit: PTI

Snapping the three-day falling streak, benchmark Sensex rebounded by 1,022 points while Nifty reclaimed the 26,000 level on Wednesday (November 26, 2025) on across-the-board buying aided by a rally in global peers amid growing hopes of a U.S. Fed rate cut and fresh foreign fund inflows.

The 30-share BSE Sensex jumped 1,022.50 points or 1.21% to settle at 85,609.51. During the day, it surged 1,057.18 points or 1.24% to 85,644.19.

The 50-share NSE Nifty zoomed 320.50 points or 1.24% to end at 26,205.30, just 10 points shy of its all-time closing high. The broader index scaled a record intra-day high of 26,277 on September 27, 2024.

In intra-day trade, Nifty rallied 330.35 points or 1.27% to 26,215.15.

Increasing optimism surrounding a potential truce between Russia and Ukraine also bolstered the investor sentiment, experts said.

Among Sensex firms, Bajaj Finserv, Bajaj Finance, Tata Steel, Reliance Industries, Sun Pharma, Tata Motors Passenger Vehicles, Axis Bank and Infosys were among the major gainers.

Bharti Airtel and Asian Paints emerged as the laggards from the pack.

Market participation was broad-based, with metals, energy and IT leading the gains. Mid-cap and small-cap indices also advanced over 1%.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Hong Kong’s Hang Seng index settled in positive territory. Kospi surged 2.67%, Nikkei 225 index jumped 1.85% and Hang Seng index climbed 0.13%. Shanghai’s SSE Composite index, however, ended lower.

Markets in Europe were trading in the green. U.S. markets ended higher on Tuesday (November 25, 2025).

“Indian markets staged an impressive rally on Wednesday (November 26, 2025), with broad-based buying across sectors reflecting the sharp risk-on sentiment in global equities.

“The upmove was supported by growing expectations of a U.S. Federal Reserve rate cut in December, after the latest U.S. economic releases — including September retail sales and producer price data — signalled softening demand and cooling inflation,” Ponmudi. R, CEO of Enrich Money, an online trading and wealth tech firm, said.

Foreign Institutional Investors bought equities worth ₹785.32 crore on Tuesday (November 25, 2025), and Domestic Institutional Investors (DII) also purchased stocks worth ₹3,912.47 crore, according to exchange data.

The BSE midcap gauge jumped 1.32% and smallcap index climbed 1.23%.

Among sectoral indices, metal surged 2.08 per cent, oil & gas jumped 1.81%, followed by energy (1.68%), capital goods (1.65%), services (1.63%), power (1.59%) and commodities (1.58%).

BSE Telecommunication emerged as the only laggard.

A total of 2,800 stocks advanced while 1,371 declined and 154 remained unchanged on the BSE.

“On a global scale, market sentiment improved with rising expectations of a US Federal Reserve rate cut in December, alongside softer US yields and a weaker dollar. Furthermore, increasing optimism surrounding a potential truce between Russia and Ukraine is enhancing risk appetite, fostering a positive outlook for the upcoming year,” Vinod Nair, Head of Research, Geojit Investments Limited, said.

Brent crude, the global oil benchmark, went up marginally by 0.03% to $62.50 per barrel.

“Renewed optimism over a potential rate cut by the U.S. Federal Reserve in December, along with expectations of a 25-basis-point repo rate cut by the Reserve Bank of India early next month, improved investor sentiment.”

“Additionally, easing crude oil prices—driven by hopes of progress toward peace between Ukraine and Russia—provided further support,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

On Tuesday (November 25, 2025), the Sensex dropped 313.70 points or 0.37% to settle at 84,587.01. The Nifty declined 74.70 points or 0.29% to 25,884.80.

Published – November 26, 2025 05:25 pm IST

U.S. Federal Reserve Chair Jerome Powell holds a press conference after the Fed cut interest rates by quarter of a percentage point, in Washington, D.C., U.S., October 29, 2025.
| Photo Credit: Reuters

The decision to hike U.S. H-1B visa application fee to $100,000, trade talks and the GST rate cut will be the key drivers for stock market movement this week, analysts said.

Besides, trends in global equity markets would also be tracked by investors.

“This week, markets will first react to the U.S. imposing an annual fee of $100,000 on H-1B visas, announced late on Friday (September 19, 2025). While export-driven sectors are already grappling with tariff-related pressures, this move could further weigh on IT services exporters at a sensitive time when trade negotiations remain underway,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

Globally, investors will be closely monitoring the performance of U.S. markets in the aftermath of the Federal Reserve’s rate cut, he added.

Trouble mounted for the $285-billion Indian IT sector in its largest outsourcing market, as the U.S. decided to hike H-1B visa application fee to $100,000 (about ₹88 lakh), with apex body Nasscom warning that business continuity for onshore projects will be disrupted.

Notably, Indian tech professionals account for bulk of H-1Bs, over 70%.

“This move [the U.S. decision to hike H-1B visa application fee to $100,000] could sharply increase costs for U.S. clients and reduce demand for Indian tech talent, directly impacting the revenue visibility of large IT exporters such as TCS, Infosys, and Wipro,” Pravesh Gour, Senior Technical Analyst, Swastika Investmart, said.

On the domestic front, traders will also monitor rupee movement and crude oil prices, both of which remain key drivers for Indian equities, he added.

Meanwhile, Commerce and Industry Minister Piyush Goyal will lead an official delegation to the U.S. for trade talks on September 22, an official statement said on Saturday.

The delegation plans to hold talks with U.S. team to take forward discussions with a view to achieve early conclusion of a mutually beneficial trade agreement, it said.

During the last visit of the team of officials from the office of United States Trade Representative to India on September 16, positive discussions were held on various aspects of the trade deal, and it was decided to intensify efforts in this regard.

Prices of kitchen staples to electronics, from medicines and equipment to automobiles, will get cheaper from Monday as the reduced GST rates on about 375 items come into effect.

In a bonanza to consumers, the GST Council, comprising Centre and states, has decided to reduce tax rates on goods and services, from September 22 — the first day of the Navaratri.

Markets would also track trading activity of foreign investors. Foreign Institutional Investors (FIIs) bought equities worth ₹390.74 crore on Friday, according to exchange data.

On the global front, focus now shifts to key U.S. macroeconomic data, including GDP, manufacturing & services PMI, and PCE Price Index.

Vikram Kasat, Head – Advisory, PL Capital, said, “As India heads into the festive season, all eyes are on how markets digest recent GST rate cuts, evolving consumer demand trends, and the steady stream of IPOs that have kept primary market activity resilient despite global volatility.”

Last week, the BSE benchmark jumped 721.53 points or 0.88%, and the Nifty climbed 213.05 points or 0.84%.

Published – September 21, 2025 12:52 pm IST

Image used for representative purpose only.
| Photo Credit: Reuters

The Federal Reserve cut its key interest rate by a quarter point Wednesday (September 17, 2025) and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labour market.

The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Federal officials, led by Chair Jerome Powell, had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy.

Yet the central bank’s focus has shifted quickly from inflation, which remains modestly above its 2% target, to jobs, as hiring has ground nearly to a halt in recent months and the unemployment rate has ticked higher.

Lower interest rates could reduce borrowing costs for mortgages, car loans, and business loans and boost growth and hiring.

“In this less dynamic and somewhat softer labour market, the downside risks to employment appear to have risen,” Mr. Powell said at a press conference following the Federal’s two-day meeting.

Federal officials also signalled that they expect to reduce their key rate twice more this year, but just once in 2026, which may disappoint Wall Street. Before the meeting, investors had projected five cuts for the rest of this year and next.

Just one Federal policymaker dissented from the decision: Stephen Miran, who President Donald Trump appointed and was confirmed by the Senate in a rushed vote late Monday (September 15, 2025) just hours before the meeting began. Miran preferred a larger half-point cut, but Mr. Powell told reporters there wasn’t “very much support” for the bigger-size cut among Federal officials.

Many economists had forecast there would be additional dissents, and the meeting’s outcome suggests that Mr. Powell was able to patch together a show of unity from a committee that includes Miran and two other Trump appointees from his first term, as well as a Federal Governor, Lisa Cook, whom Mr. Trump is seeking to fire.

The Federal is facing both a challenging economic environment and threats to its traditional independence from day-to-day politics. At the same time that hiring has weakened, inflation remains stubbornly elevated. It rose 2.9% in August from a year ago, according to the consumer price index, up from 2.7% in July and noticeably above the Fed’s 2% target.

It’s unusual to have weaker hiring and elevated inflation, because typically a slowing economy causes consumers to pull back on spending, cooling price hikes. Mr. Powell suggested last month that sluggish growth could keep inflation in check even if tariffs lift prices further.

Separately, Mr. Trump’s attempted firing of Ms. Cook is the first time a President has tried to remove a Federal Governor in the central bank’s 112-year history and has been seen by many legal scholars as an unprecedented attack on the Federal’s independence.

Also read: U.S. Judge blocks Trump from removing Fed Governor Lisa Cook, for now

His administration has accused Ms. Cook of mortgage fraud, but the accusation has come in the context of Mr. Trump’s extensive criticism of Mr. Powell and the Federal for not cutting rates much faster and steeper.

An appeals court late Monday (September 15, 2025) upheld an earlier ruling that the firing violated Ms. Cook’s due process rights. A lower court had also previously ruled that Trump did not provide sufficient justification to remove Ms. Cook. Also late Monday (September 15, 2025), the Senate voted to approve Mr. Miran’s nomination, and he was quickly sworn in Tuesday (September 16, 2025) morning.

On Tuesday (September 16, 2025), Mr. Trump said Federal officials “have to make their own choice” but added that “they should listen to smart people like me.” Mr. Trump has said the Federal should reduce rates by three full percentage points.

The Federal’s move to cut rates puts it in a different spot from many other central banks overseas. Last week, the European Central Bank left its benchmark rate unchanged, as inflation has largely cooled and the economy has seen limited damage, so far, from U.S. tariffs.

On Friday (September 19, 2025), the Bank of England is also expected to keep its rate on hold as inflation, at 3.8%, remains higher than in the United States.

Published – September 18, 2025 01:02 am IST

Representative image
| Photo Credit: Reuters

The US Federal Reserve is in no “hurry” to adjust interest rates again, the central bank’s chair Jerome Powell said Wednesday, after policymakers voted to pause rate cuts in the first decision since Donald Trump’s White House return.

The Fed’s rate-setting committee voted unanimously to keep the bank’s benchmark lending rate at between 4.25 percent and 4.50 percent, the Fed announced in a statement.

“With our policy stance significantly less restrictive than it had been, and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance,” Powell told reporters after the decision.

The Fed’s pause follows three consecutive rate reductions which together lowered its key rate by a full percentage point.

In its statement, the Fed said the unemployment rate had stabilized “at a low level,” and the labor market was still solid.

Inflation however “remains somewhat elevated,” the Fed said, removing a reference in earlier statements to inflation making progress towards its long-term target of two percent.

“By design, Powell provided little in the way of new information at this FOMC meeting,” economists at Citi wrote in a note to clients Wednesday, referring to the Fed’s rate-setting committee.

Powell, they added, had “effectively” kept all options for the Fed’s next rate decision in March.

Trump slams Powell, Fed

The US central bank has a dual mandate from Congress to act independently to tackle inflation and unemployment.

It does so primarily by raising or lowering its key short-term lending rate, which influences borrowing costs for consumers and businesses.

Most analysts agree that the US economy is going fairly well, with robust growth, a largely healthy labor market, and relatively low inflation which nevertheless remains stuck above the Fed’s target.

But in a post to his Truth Social account, President Trump slammed both Powell and the Fed, accusing them of failing “to stop the problem they created with Inflation.”

Futures traders see a probability of more than 80 percent that the Fed will extend its pause to rate cuts at its March meeting, according to data from CME Group.

‘Wait and see’

Since returning to office on January 20, Trump has revived his threats to impose sweeping tariffs on US trading partners as soon as this weekend and to deport millions of undocumented workers.

He has also said he wants to extend expiring tax cuts and slash red tape on energy production.

Most — though not all — economists expect Trump’s tariff and immigration policies to be at least mildly inflationary, raising the cost of goods faced by consumers.

“I think those policies are definitively inflationary, it’s just a question of what degree,” Mark Zandi from Moody’s Analytics told AFP ahead of the rate decision.

Asked about the likely impact of Trump’s proposals, including tariffs, Powell said the Fed would have to “wait and see” how they affected the economy.

At the Fed’s previous meeting, policymakers dialed back the number of rate cuts they expect this year to a median of just two, with some incorporating assumptions about Trump’s likely economic policies into their forecasts, according to minutes of the meeting.

Given the uncertainty about the effect of Trump’s policies on the US economy, analysts are now divided over how many rate cuts they expect the Fed to make in 2025.

“We retain our baseline that the FOMC will cut rates 25bp (basis points) this year, in June,” economists at Barclays wrote, pointing to the economy’s underlying strength.

Zandi from Moody’s Analytics said he also expects two rate cuts later in the year.

But, he added, “there are meaningful odds that the next move by the Fed may not be a rate cut, it might be a rate increase.”

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Federal Reserve Board Chairman Jerome Powell. File
| Photo Credit: AP

Federal Reserve Chair Jerome Powell signalled Monday that more interest rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy.

Wall Street investors and economists are weighing whether the Fed will follow its larger-than-usual half-point cut made earlier this month with another hefty reduction at either of its upcoming meetings in November or December. At their meeting Sept 18, Fed officials penciled in two more quarter-point rate cuts at those final 2024 meetings.

In remarks before the National Association for Business Economics in Nashville, Tennessee, Powell said the U.S. economy and hiring are largely healthy and emphasized that the Fed is “recalibrating” its key interest rate, which is now at about 4.8%.

He also said the rate is headed “to a more neutral stance,” a level that doesn’t stimulate or hold back the economy. Fed officials have pegged the so-called “neutral rate” at about 3%, significantly below its current level.

Mr. Powell emphasised that the Fed’s current goal is to support a largely healthy economy and job market, rather than rescue a struggling economy or prevent a recession.

“Overall, the economy is in solid shape,” Mr. Powell said in written remarks. “We intend to use our tools to keep it there.” Inflation, according to the Fed’s preferred measure, fell to just 2.2% in August, the government reported Friday. Core inflation, which excludes the volatile food and energy categories and typically provides a better read on underlying price trends, ticked up slightly to 2.7%.

The unemployment rate, meanwhile, ticked down last month to 4.2%, from 4.3%, but is still nearly a full percentage point higher than the half-century low of 3.4% it reached last year. Hiring has slowed to an average of just 116,000 jobs a month in the past three month, about half its pace a year ago.

Mr. Powell said the job market was solid but “cooling”, and added that the Fed’s goal is to keep unemployment from rising much higher.

Over time, the Fed’s rate reductions should reduce borrowing costs for consumers and businesses, including lower rates for mortgages, auto loans, and credit cards.

“Our decision…reflects our growing confidence that, with an appropriate recalibration of our policy stance, strength in the labor market can be maintained in a context of moderate economic growth and inflation moving sustainably down to 2%,” Mr. Powell said.

Since the Fed’s rate cut, many policymakers have given speeches and interviews, with some clearly supporting further rapid cuts and others taking a more cautious approach.

Austan Goolsbee, president of the Fed’s Chicago branch, said that the Fed would likely implement “many more rate cuts over the next year”.

Yet Tom Barkin, president of the Richmond Fed, said in an interview with The Associated Press last week, said that he supported reducing the central bank’s key rate “somewhat” but wasn’t prepared to yet cut it all the way to a more neutral setting.

A big reason the Fed is reducing its rate is because hiring has slowed and unemployment has picked up, which threatens to slow the broader economy. The Fed is required by law to seek both stable prices and maximum employment, and Powell and other policymakers have underscored that they are shifting to a dual focus on jobs and inflation, after centring almost exclusively on fighting price increases for nearly three years.

At the interbank foreign exchange, the local unit opened slightly strong at 83.59 against the American currency. File
| Photo Credit: Reuters

The rupee appreciated 3 paise to close at 83.60 (provisional) against the U.S. dollar on Wednesday (September 25, 2024), tracking a positive trend in domestic equities and a weak greenback against major currencies overseas.

“However, net foreign fund outflows capped sharp gains in the local unit,” Forex traders said.

At the interbank foreign exchange, the local unit opened slightly strong at 83.59 against the American currency. During the session, it surged 12 paise to touch 83.51.

However, the domestic currency gave up most of its gains to settle at 83.60 (provisional), 3 paise higher than its previous close.

On Tuesday (September 24, 2024), the rupee fell 9 paise to close at 83.63 against the American currency.

“This strength is likely supported by a weak dollar index and continued positive sentiment in Indian markets,” Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said.

On the domestic equity markets front, the Sensex climbed 255.83 points to settle at an all-time high of 85,169.87, while Nifty rallied 63.75 points to hit a record of 26,004.15.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose marginally by 0.05% to 100.52.

Brent crude, the international benchmark, was down 0.25% at 74.98 in futures trade.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday (September 24, 2024), offloading shares worth ₹2,784.14 crore, according to exchange data.

Meanwhile, the Asian Development Bank (ADB) on Wednesday (September 25, 2024) retained India’s growth forecast for the current fiscal at 7% and said that the economy is likely to accelerate in the coming quarters on improved farm output and higher Government spending.