** Shares of New York Community Bancorp turn positive, last up 1% after U.S. Federal Reserve cuts its benchmark interest rate by 50 bps
** Stock set for sixth consecutive session of gains, if current levels hold
** Raymond James upgraded NYCB's stock earlier this week, citing the favorable impact to its loan book from lower rates
** NYCB's borrowers have been under pressure from higher rates, prompting it to conserve capital and set aside bigger provisions for loan losses
** Stock has lost 60% of its value YTD, as of Tuesday
(Reporting by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))
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