The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 25,530 level, a premium of nearly 40 points from the Nifty futures’ previous close.

The US data released overnight indicates that the US labour market is only slowing, not deteriorating. With inflation under control, this means the US is set for a soft landing under a declining interest rate scenario.

Benchmark NSE Nifty50 index was up 148.05 points at 25563.85, while the BSE Sensex was up 437.58 points at 83622.38. Among the 50 stocks in the Nifty index, 38 were trading in the

Indian markets reacted cautiously to the US Federal Reserve's rate cut, with profit booking leading to modest gains. The Nifty 50 and Sensex hit record highs before retreating, impacted by losses in key sectors,