Indian benchmark equity indices reached new record highs on Thursday after the US Federal Reserve announced a more relaxed approach to interest rates. The BSE Sensex increased by 1005 points to reach 70,589, while the Nifty50 rose by 280 points to 21,205. The Federal Reserve decided to maintain interest rates and signaled upcoming rate cuts. Experts predict a rally in the market due to the dovish message from the Fed. Asian markets saw stocks rise, except for Japan’s Nikkei which declined due to the strengthening yen. In the US, the Dow closed at a new high above 37,000 points, and the S&P 500 and Nasdaq composite also increased. The US dollar index fell, resulting in foreign institutional investment in India. Benchmark Treasury yields reached their lowest level since August 10, leading to large capital flows to India. Oil prices also rose in anticipation of lower borrowing costs in 2024. Foreign institutional investors continued to buy Indian shares, while domestic institutional investors sold shares.
Indian benchmark equity indices reached new all-time highs following the US Federal Reserve’s announcement of a more relaxed approach to interest rates. The BSE Sensex rose by 1005 points to reach 70,589, while the Nifty50 was up 280 points at 21,205. The Federal Reserve decided to keep interest rates steady and signaled a series of cuts for the next year. Experts believe that the dovish message from the Fed will lead to a rally in the coming days. In Asian markets, stocks rallied following the Fed’s dovish tone. In the US, the Dow closed at a record high above 37,000 points. Benchmark Treasury yields reached their lowest level since August 10, which is expected to lead to large capital flows to India. Oil prices rose on expectations of lower borrowing costs in 2024. Foreign institutional investors continued to be net buyers in the Indian market.
The article is reproduced from Source link
The BSE Sensex experiences a significant surge of 930 points, resulting in the Nifty50 closing the day above 21,100. This positive outcome can be attributed to the encouraging news from the US Federal Reserve, giving investors cause for celebration.
