Key Points
Sensex jumped 796.64 points to hit an all-time high of 70,381.24 and Nifty 222.1 points to arrive at its record peak of 21,148.45 on Thursday after the US Federal Reserve left interest rates unchanged and signalled the possibility of three rate cuts in 2024, according to agency reports...
Well, not just the Indian benchmark equity indices, markets across the world rallied as the Fed indicated that the tightening of US monetary policy was coming to an end and there could also be a possibility of lower borrowing costs in2024...
No change in the key interest rate for the third straight time indicated that the US Fed Reserve was likely done raising rates after having imposed the fastest string of increases in four decades to fight painfully high inflation, as per agency reports...
A sharp rise in November retail inflation may have acted as a dampener on some days but the Indian benchmark indices hit multiple highs this December, jumping over many milestones ahead of the US Fed meeting...
While the Fed buzz was said to be one of the main reasons for the bull run, experts also sense some specific India-centric reasons for the general buoyancy in the stock markets and one of them may be the indication of continued political stability after the big BJP victory in three key statesRajasthan, Chhattisgarh and Madhya Pradesh...
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