Indian stocks fell marginally on Thursday morning in line with weak global cues, following another policy rate hike by the US Federal Reserve in its fight against high inflation. However, a sharp decline was likely as investors had already discounted a possible rate hike by the US central bank. At 9.33 am, Sensex was trading 152.82 points or 0.26 per cent lower at 59,303.96, while Nifty was trading 46.40 points or 0.26 per cent lower at 17,671.95. The current global risk context, said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Investors can remain optimistic but remain cautious as India’s valuations remain high. “Financial, capital goods, select auto, telecom and construction related stocks can be bought on the downside,” Vijayakumar said. Meanwhile, the Indian currency rupee again broke the psychologically important 80 mark and touched another fresh record high of 80.44 against the previous day’s high of 79.97 against the US dollar. This sharp depreciation was on account of the current strength in the US dollar index. Consumer inflation in the US, however, declined marginally to 8.3 per cent in August from 8.5 per cent in July, but is well above the target of 2 per cent.