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A Fed rate cut usually weakens the dollar, leading to gold price increases as investors flock to safer investments. However, initial price spikes might be followed by a stabilization period as markets process the full impact of the rate change. Short-term, retail traders might see further upside potential with gold reaching $2,600 and Rs 75,000, but should also be ready for price corrections as the series of rate cuts continues.

Wipro Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 280075.29 Crore) operating in IT Software sector.

We should not rule out the possibility that there is some profit booking that follows an event when typically it is buy on expectation and sell on news kind of a situation. So, that is where I think the IT sector may be taking a hit apart from whatever news flow is happening, that is the only near-term risk that there is some profit booking post FOMC meeting and that does affect IT as well.

On the technical charts, the 200-day moving average of the stock stood at Rs 3831.21.

"India will continue to gain share due to market outperformance, new issuances and liquidity improvements," analysts led by Jonathan Garner of Morgan Stanley said.

The good thing is that they have at least let the liquidity build up, which has built up as the government started to spend after the elections, which reduces some risk for the economy.

The Relative Strength Index of the stock stood at 51.86 on Wednesday.

The stock quoted a 52-week high price of Rs 2697.45 and a 52-week low of Rs 2081.25.

These businesses take time to build core potential. When they launched, there was a lot of hype, but the reality lagged behind. Now, the world is changing, and companies like Zomato and Nykaa are gaining traction at the ground level.

A total of 1,707 shares changed hands on the counter till 12:52PM (IST)