Stock market today: Indian stock markets are poised for a strong Thursday opening on December 11, driven by upbeat global sentiment and the Federal Reserve’s latest policy move. The Fed delivered its third straight rate cut of 0.25 bps on Wednesday, reducing its benchmark rate to around 3.6% – the lowest level in nearly three years – while also signaling that further easing may be on hold. Asian markets rallied in response to the Fed’s decision, adding to the positive sentiment for Indian stocks. Gift Nifty futures reflected this optimism, trading near 25,966 – 131 points or 0.5% higher than the previous close of Nifty futures – indicating a robust start for the Sensex and Nifty 50. Back home, the Indian stock market fell for the third session in a row on Wednesday, December 10, taking a brief break from Sensex highs of 354. 85,020.34, but the recovery was short-lived, with the index slipping 629 points from its peak to end in negative territory. The 30-share index closed 275 points lower at 84,391.27, while the Nifty 50 fell 82 points to end at 25,758. Here are key market cues for Sensex and Nifty today: Asian markets Asian stocks advanced on Thursday, mirroring Wall Street’s gains after the Federal Reserve cut interest rates and Chairman Jerome Powell expressed confidence that the US economy will strengthen as the inflationary effects of rates ease. The MSCI Asia Pacific Index climbed 0.5% in early trade, supported by technology and financial stocks. Hang Seng futures were up 0.3%, Japan’s Topix was up 0.1%, and Australia’s S&P/ASX 200 was up 0.7%, while S&P 500 futures were down 0.1% as of 9:29 am. Tokyo time. Gift Nifty Today The trends on Gift Nifty also indicate a strong start for the Indian benchmark index. The Gift Nifty traded at around 25,966, up 131 points or 0.5% from the Nifty futures’ previous close. Wall Street Wall Street closed higher on Wednesday after the Federal Reserve delivered a widely expected quarter-point rate cut, with investors continuing to bet on further easing even as the central bank signaled a temporary pause. Policymakers said they would wait for clearer signs about the path of the labor market and inflation, which “remains slightly elevated,” before considering additional policy changes. The S&P 500 rose 46.17 points, or 0.67%, to 6,886.68, coming close to its Oct. 28 record but ultimately falling short. The Dow Jones Industrial Average gained 497.46 points, or 1.05%, to 48,057.75, while the Nasdaq Composite added 77.67 points, or 0.33%, to end at 23,654.16. US Federal Reserve cuts key rate The Federal Reserve cut its benchmark interest rate by 0.25bp on Wednesday, marking the third straight cut, but indicated it may pause further cuts in the coming months. The move pulled the Fed’s key rate down to around 3.6% – the lowest level in nearly three years. While lower policy rates generally ease borrowing costs for mortgages, auto loans and credit cards, market dynamics also affect how those rates shift. At a news conference, Chairman Jerome Powell noted that after six rate cuts over the past two years, the central bank is now positioned to stand back and observe how the labor market and inflation develop. In their latest quarterly economic projections, Fed officials also indicated that they expect only one additional rate cut next year. US dollar falls The US dollar weakened against major currencies on Wednesday after the Federal Reserve delivered a widely expected rate cut but signaled it may pause its easing cycle at the January policy meeting. The dollar fell 0.8% against the Swiss franc to 0.8000 francs and was 0.6% lower at 155.92 against the Japanese yen. The euro rose 0.6% to $1.1691, while the dollar index – which tracks the dollar against a basket of currencies including the yen and euro – fell 0.6% to 98.66. India-US Trade Agreement US Representative Bill Huizenga underlined the growing economic and strategic scope of the India-US partnership, with increasing US business interest and the need for deeper cooperation to ensure Indo-Pacific stability. Speaking at a hearing of the Foreign Affairs Subcommittee, he cited India’s rapid economic growth and said American companies were looking for a level playing field. He added that a new trade deal under President Trump and Prime Minister Modi will further strengthen ties. The comments came as Foreign Minister Vikram Misri met US Undersecretary Allison Hooker, who is on a five-day visit to promote strategic and economic cooperation. Gold prices Gold prices edged higher on Thursday after the US Federal Reserve cut interest rates, even as policymakers were divided over the prospect of further easing next year. Spot gold was up 0.3% at USD 4,242.39 an ounce as of 0040 GMT, while US gold futures for February delivery were up 1.1% at USD 4,271.30 an ounce. Meanwhile, spot silver rose 0.9% to USD 62.31 an ounce after scaling a record peak of USD 62.67. Silver prices are up 113% year-to-date, supported by rising industrial demand, falling inventories and the metal’s inclusion on the US critical minerals list. Oil prices Oil prices rose for a second straight session on Thursday after the US seized a sanctioned tanker off the coast of Venezuela, raising tensions and fueling fears of new supply disruptions. Brent crude was up 27 cents, or 0.4%, at USD 62.48 a barrel by 0101 GMT, while US West Texas Intermediate was up 33 cents, or 0.6%, at USD 58.79. Two US officials told Reuters that the United States had intercepted a tanker near Venezuela, although they did not identify the vessel or specify the exact location of the Coast Guard-led operation. (With input from agencies)