The Indian stock market hit at an all-time high on Thursday morning, hours after the US Federal Reserve delivered a 50 basis point (bps) interest rate cut. At 9.20 am the Nifty was up 0.68% at 25,551.65 and the Sensex was up 0.71% at 83,542.65.
Overnight, the Dow Jones had initially jumped after Wednesday's cut before erasing 479 points from its intraday high to close 0.25% lower at 41,503.10.
Dow Jones active futures were up almost 0.5% on Thursday morning, indicating a higher opening for the bellwether US index.
Some analysts said markets had generally expected a 25-50 bps cut in the federal funds rate and that there would be profit-booking.
However, others said the rate cut would be positive for emerging markets such as India, which could attract greater foreign inflows over time.