The Indian stock markets were expected to open higher on Thursday, following the US Federal Reserve's decision to cut policy rates by a widely expected 50bps. GIFT Nifty futures were trading at 25,408, modestly higher than Nifty futures' last close at 25,396.

On Wednesday, the 30-share benchmark index ended at 82948.23 down by -131.43 points or by -0.16 % and then NSE Nifty was at 25377.55 down by -41 points or by -0.16 %.

On the global front, Markets in the Asia-Pacific region were being led higher by Japan’s Nikkei 225, with Nikkei and Topix up about 2 per cent each.

Meanwhile, Hong Kong’s Hang Seng index futures pointed to a flat open for HSI, as they would return to trade after being closed for a public holiday on Wednesday.

Major stock indices had closed with modest losses and the dollar gained ground in choppy trading on Wednesday after the US Federal Reserve opted for a supersized cut in its first move to borrowing costs in more than four years.

The central bank cut its overnight rate by half a percentage point, more than the quarter-point that is customary for adjustments, citing greater confidence that inflation will keep receding to its 2 per cent annual target.

The benchmark S&P 500 rose as much as 1 per cent after the announcement before retreating to close down 0.29 per cent at 5,618.26.

The Dow Jones Industrial Average closed down 0.25 per cent, at 41,503.10, and the Nasdaq Composite shed 0.31 per cent, to end at 17,573.30.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 24856345.00, HDFC Bank Ltd. 20458671.00, State Bank of India 18324412.00, Oil And Natural Gas Corporation Ltd. 13421760.00, ICICI Bank Ltd. 12466597.00,

On NSE, total number of shares traded was 389.60 Crore and total turnover stood at Rs. 113945.72 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 484484 with a total turnover of Rs. 34384.86 Crore. Along with this total number of contracts traded in stock futures were 1586719 with a total turnover of Rs. 131002.62 Crore. Total numbers of contracts for index options were 912797526 with a total turnover of Rs. 70129108.36 Crore. and total numbers of contracts for stock options were 8853771 with a total turnover of Rs. 767069.73 Crore.

The FIIs on 17/09/2024 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 25484.85 Crore and gross debt purchased stood at Rs. Crore, while the gross equity sold stood at Rs. 23972.62 Crore and gross debt sold stood at Rs. Crore. Therefore, the net investment of equity and debt reported were Rs. 1512.23 Crore and Rs.