Some analysts had said the 50 basis point cut was already priced in by the market, but others said it would be positive for emerging markets such as India, bringing greater foreign inflows over time.

Stock index futures rose sharply on Thursday, with Nasdaq futures hitting a session high, a day after the Federal Reserve delivered a supersized rate cut. U.S.

Dow Jones rose 0.25% to 41,709.58, the S&P 500 index gained 0.40% to 5,656.89 and Nasdaq was up or 0.75% at 17,760.77.

Major stock indexes rose and the dollar dropped on Wednesday as traders digested a chunky interest rate cut from the Federal Reserve, which moved to lower borrowing costs in the world's largest economy for the first time in more than four years.

Do rate cuts with the stock market at or near all-time highs provide bulls additional fuel or do they portend trouble ahead? Dow Jones Market Data ran back the tape. They found that since 1990, the Fe