Sensex rises 388 points, Nifty breaches record 25,000-mark

New Delhi: Benchmark BSE Sensex jumped 388 points to breach the 82,000-level for the first time while broader Nifty spurted 108 points to hit the record 25,000-mark in early trade on Thursday after the US Federal Reserve indicated a rate cut by September.

The 30-share BSE Sensex soared 388.15 points, or 0.47 per cent, to hit an all-time intra-day high of 82,129.49 in early trade.

Among Sensex shares, Maruti rose 2.93 per cent following its stellar June quarter results.

"The Fed chief signalling a possible rate cut in September is positive for global equity markets. More important, his comments that the US economy is normalising is a shot in the arm for bulls," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

Indicating a rate cut by September, US Federal Reserve Chair Jerome Powell said that progress has been made in reducing inflation to the 2 percent target which is a sign that the Fed is moving closer toward reducing the key interest rate for the first time in four years.

In Asian markets, Tokyo, Shanghai and Hong Kong were trading in the negative territory while Seoul was in the green on Thursday.

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