Emkay Global said another round of dollar appreciation looks likely, which would hurt equities and the currency, making the February 2025 rate cut much more difficult.

The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 23,365 level, a discount of nearly 190 points from the Nifty futures’ previous close.

The 30-share BSE benchmark Sensex jumped 740.76 points or 0.97 per cent to close at 77,500.57. The NSE Nifty opened in the green and surged 258.90 points or 1.11 per cent to end at 23,508.40.​​