Sensex Today: A relief rally ensued on Dalal Street on Thursday after the US Federal Reserve stayed on course to cut key rate thrice in 2024, despite elevated inflation.
The S&P BSE Sensex settled 540 points, or 0.75 per cent, higher at 72,641 levels, while the Nifty50 shut shop above 22,000-mark at 22,012, up 173 points or 0.79 per cent.
26 of the 30 Sensex stocks and 43 of the 50 Nifty stocks eked out gains with BPCL, NTPC, Power Grid, Coal India, Tata Steel, IndusInd Bank, Tata Motors, JSW Steel, and Hindalco emerging as leaders. These shares edged 2.4 per cent to 3.6 per cent higher.
In the broader markets, the rebound was steeper with the BSE MidCap and SmallCap indices closing 2.3 per cent and 2 per cent higher, respectively.
The gains were broad-based today with all the sectoral indices on the NSE swimming in the green. The charge was led by the Nifty Realty, which was up 3 per cent, the Nifty Metal index 2.4 per cent, the Nifty PSU Bank index 2.14 per cent, and the Nifty Media index 1.8 per cent.
Global Cues
Asian shares bounced while gold prices and Japan’s Nikkei jumped to record highs on Thursday after the U.S. Federal Reserve indicated it would stick with plans for cutting interest rates.
Tokyo stocks opened higher on Thursday, helped by a cheaper yen and US rallies after the Federal Reserve decided to keep interest rates unchanged.The benchmark Nikkei 225 index was up 1.30 percent, or 520.75 points, at 40,524.35 in early trade, while the broader Topix index added 1.20 percent, or 33.10 points, to 2,784.07.
Wall Street’s main stock indexes closed higher on Wednesday after the Federal Reserve eased investor jitters by keeping borrowing costs unchanged and reinforcing expectations that rates could be cut as many as three times this year.
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