India, Dec. 11 -- India's stock markets are trading mixed after the US Federal Reserve delivered a third straight interest-rate cut, as investors tracked cues on progress of a India-US trade deal that's been a WIP for months.

On Thursday, the 30-share BSE Sensex opened 0.17% higher only to reverse the gains to trade 0.26% lower. The NSE Nifty 50 also advanced 45.05 points but slipped 50.90 points soon after. That, after the Wall Street settled higher after a divided US Federal Reserve cut the federal funds rate by 25 basis points to a range of 3.5-3.75 per cent in its December meeting.

One basis point is one-hundredth of a percentage point.

"Persistent weakness in the rupee and worries over delay in any meaningful progress in India-US ...