India’s equity benchmarks are poised to open higher on Thursday after three sessions of losses, buoyed by the US Federal Reserve’s widely expected 25-basis-point rate cut, which could limit foreign outflows from domestic stocks.

The Gift Nifty futures were trading at 25,960 points as of 7:22 a.m. IST, indicating that the benchmark Nifty 50 will open above Wednesday’s close of 25,758.

Other Asian markets opened higher, rising 0.4%. Overnight, Wall Street equities advanced after the Fed decision.

Fed Chair Jerome Powell declined to offer any clear guidance on whether another rate cut is likely in the near term. However, investors still drew some optimism from his remarks about significant downside risks to the labour market and the central bank’s reluctance to push down job creation.

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